The Nigerian stock market ended last week on a bearish note, driven by rising petrol prices, which surged from around N600 to between N855 and N1,000 per liter. The private sector raised concerns about the negative impact on businesses due to the energy crisis.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) dropped by 0.2%, closing at 96,433.53 points, down from 96,579.54 points the previous week. Market capitalization also fell by over N83 billion, closing at N55.394 trillion. Notable stocks like Dangote Sugar, Zenith Bank, and WAPCO experienced declines, contributing to the overall market downturn.
Analysts remain cautious, with projections for mixed trading and profit-taking activities in the coming week as investors remain watchful.
