Nigerian Stock Market Closes Lower, Investors' Wealth Drops by Over N351 Billion

The Nigerian stock market closed in the red on Wednesday, January 28, with sustained selling pressure dragging key indices into negative territory. The Nigerian Stock Exchange (NSE) All-Share Index fell by 0.33% to 549.44 points, while market capitalization settled at N105.7 trillion, reflecting a decline of over N351 billion.

Despite improved trade activity with a total of 623.12 million shares valued at N16.51 billion exchanged in 42,119 deals during the session, market breadth closed negative with 38 equities declining against 13 stocks that participated in the trade. Analysts noted that the equity market appears to be entering a consolidation phase as investors assess recent volatility.

Additionally, there are concerns in the banking sector as several banks are working against time to meet the recapitalization deadline of March 31, 2026, with some facing the possibility of closure if they fail to meet the requirements.