Stock market extends bearish, sheds ₦553bn

The All Share Index (ASI) decreased by 1,016.42 absolute points, representing a dip of 1.88 per cent to close at 53,018.97 as against 54, 035.39 recorded on Tuesday.

Similarly, the market capitalisation lost N553 billion or 1.88 per cent, to close at N28.883 trillion as against N29.436 trillion.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Airtel Africa, Flour Mills of Nigeria, Unilever Nigeria, Multiverse Mining and Exploration and Champion Breweries.