Nigeria: Stock Market Down N482bn On Profit-Taking in Aradel Holdings, 25 Others

The Nigerian stock market yesterday closed trading on negative note as investors’ profit-taking in Aradel Holdings Plc and 25 others dragged the overall market capitalization lower by N482 billion.

As Aradel Holdings dropped by 10 per cent, the Nigerian Exchange Limited All-Share Index (NGX ASI) shed 343.31 basis points or 0.35 per cent to close at 97,296.57 basis points. As a result, the stock market in its Month-to-Date and Year-to-Date returns stood at -0.4per cent and +30.1per cent,…