Investors Lose N596bn as Heavy Selloffs Drag Nigerian Stock Market Down – NGX

   Nigerian Exchange (NGX) on Tuesday closed in negative territory, with investors losing nearly N596 billion following sustained selloffs in large-cap stocks.

Data from the NGX showed that market capitalisation dropped by N595.80 billion to settle at N87.81 trillion, representing a 0.67% decline. The All-Share Index (ASI) also fell 0.67% to close at 138,780.55 points, trimming the year-to-date gain to +34.83%.

Analysts attributed the downturn to bearish sentiments that triggered sharp declines in key counters such as Lafarge Africa (WAPCO -9.9%), Transcorp (-4.3%), Cadbury Nigeria, Dangote Sugar (-5.17%), and GTCO (-3.9%).

Trading activity remained weak, with volume slipping 0.1% to 407.57 million units, valued at N39.87 billion across 31,406 deals. GTCO led in volume with 32.61 million units, while Seplat Energy dominated by value, accounting for N28.45 billion.

Market breadth remained weak, with 48 losers versus 11 gainers, giving a ratio of 0.23x. Wema Bank (-10.0%), AIICO (-10.0%), and Prestige Assurance (-10.0%) were among the worst performers, while NCR (+9.96%) and Austin Laz (+10.0%) topped the gainers’ list.

The sharp decline highlights rising caution among investors as profit-taking pressures continue to erode market value.

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