Nigerian Stock Market Slides, Losing N1.32 trillion in Capitalisation

The Nigerian Exchange Limited All‑Share Index fell 0.84 percent, closing at 241,749.11. The decline stripped approximately N1.32 trillion from the market’s capitalisation, leaving it at about N155.13 trillion. Investor sentiment turned negative, with 44 decliners outpacing 19 advancers. Major losers included PZ Cussons Nigeria (‑10 percent), BUA Cement (‑9.99 percent), Red Star Express (‑9.98 percent) and R.T. Briscoe (‑9.70 percent). Gainers were International Breweries (+9.77 percent), NAHCO (+8.36 percent) and UACN (+8.11 percent). Trading activity remained robust: volume rose 18.7 percent to 523.54 million shares, turnover increased 14.8 percent to N22.27 billion, and 59,945 transactions were recorded. The interbank market saw rate increases across tenors, with the overnight NIBOR up 4 basis points to 22.23 percent. Analysts expect a possible rebound if strategic repositioning continues, though profit‑taking could moderate recovery momentum.