Nigerian stocks plunge into 2019 record low

Investors in the Nigeria stock market lost N548 billion on Friday to record the biggest loss in 2019.

The market opened for the week at 31,041.42 points but lost 4.49 per cent to close at 29,616.38 points, according to the key performance indicator of the NSE, the All Share Index (ASI).

Despite marginal gain achieved on Friday, the four-day losing streak earlier recorded deepened its year-to-date loss to 5.77 percent.

Consumer goods stocks suffered the greatest loss with 7.73 per cent while Industrial goods stocks lost 6.48 percent.

The banking stock lost 6.09 percent with while only 14 gainers emerged out of 67 stocks that traded during the week, a fall back.