Nigerian Stock Market Swings as NGX Index Falls Then Rises

The NGX All-Share Index dropped 2.35% on Wednesday, slipping to 235,074 points and erasing about ₦3.64 trillion from market capitalization, which closed at ₦150.85 trillion. All sectors posted losses, trading activity weakened, and the naira depreciated in both official and parallel markets.

Two days later the index rebounded 1.06% to 240,743 points, adding roughly ₦1.64 trillion in market value to reach ₦154.48 trillion. Gains were led by Airtel Africa and a new share issue by Ellah Lakes Plc, which converted debt to equity. Insurance stocks posted the strongest sectoral rise, while oil and gas fell. Trading volume increased, with 564.91 million shares exchanged.

Analysts attribute the volatility to shifting investor sentiment, macro‑economic expectations, and corporate restructuring activities.