Nigerian Stock Market Plunges, Investors Lose Over N5.6 Trillion in One Week

The Nigerian Exchange (NGX) recorded a sharp downturn in the week, with the All‑Share Index sliding 3.59% to 235,941.27 points and market capitalisation falling to about N151.3 trillion. Investors shed more than N5.6 trillion in equity value, leaving the year‑to‑date return at roughly 51.6%, down from a peak of over 60% earlier in the year.

Market breadth turned highly negative, with only 11 stocks posting gains against 78 losers. Sector indices led the decline, notably the Banking Index down 10.49% and the Insurance Index down 7.22%. Analysts attributed the sell‑off to widespread profit‑taking after a strong rally, dividend‑related price adjustments across major companies, and a half‑year portfolio rebalancing by institutional investors. The ongoing private placement of the Dangote Refinery also prompted some investors to liquidate equities. Government‑bond demand remained strong, with the latest Treasury Bill auction attracting N1.86 trillion at a 17.34% yield, further pulling funds from equities.