The stock market continues to fall, losing $553 billion.

In addition, market breadth closed negative, with 11 gainers outnumbering 14 losers. The stock market continues to fall, losing $553 billion. The domestic equity market fell for the third time in a week on Wednesday, with the benchmark Index falling 1.88 percent as investors sold off Airtel Africa and 13 other companies. The All Share Index (ASI) fell by 1,016.42 absolute points, or 1.88 percent, to close at 53,018.97, compared to 54,035.39 on Tuesday. Similarly, the market capitalisation fell by N553 billion, or 1.88 percent, to N28.883 trillion, down from N29.436 trillion. Losses in medium and large-cap stocks, such as Airtel Africa, Flour Mills of Nigeria, Unilever Nigeria, and Multiverse Mining and Exploration, exacerbated the downturn and Champion Breweries.