The Nigerian stock market closed the week on a negative note, as investors lost approximately 3.52 trillion naira in market value amid sustained selling pressure on major equities.

Trading data from the Nigerian Exchange Limited showed that the All-Share Index declined by 2.13 per cent during the week, dropping from 254,299.49 points on Monday to 248,877.22 points at Friday’s close.

Similarly, market capitalisation fell from 165.114 trillion naira to 161.593 trillion naira, representing a loss of approximately 3.52 trillion naira.

The decline was largely driven by sell-offs in major stocks, including MTN Nigeria, Zenith Bank, GTCO and Fidelity Bank, as investors continued to take profits.

Despite the overall downturn, Champion Breweries and WAPIC Insurance led the gainers, appreciating by 10 per cent each, while Honeywell Flour Mills gained 9.87 per cent.

On the losers’ chart, PZ Cussons declined by 9.94 per cent, followed by ABC Transport, which shed 8.06 per cent.

A total of 377.66 million shares valued at 26.87 billion naira were traded in 32,666 deals during Friday’s session.

The market’s year-to-date return moderated to 59.93 per cent.