Nigerian Equities Market Declines by N394 Billion in Weekly Trading

The Nigerian equities market witnessed a sharp decline as the Nigerian Exchange Group (NGX) lost N394 billion in market capitalization during the week ending on January 23, 2026. Market activities slowed down compared to the previous week, with investors engaging in profit-taking leading to a 19% drop in trade volume and a 23.6% fall in turnover value.

The financial services and industrial sectors led the trading activities, with notable gains seen in companies like Deap Capital Management Trust Plc, SCOAN Nigeria Plc, and NCR Nigeria Plc. On the other hand, Eterna Plc recorded the largest weekly decline.

The market index closed lower, reflecting a 0.39% decrease, with market capitalization dropping to N105.959 trillion. Analysts attributed the weekly loss to profit-taking following a strong rally in several blue-chip stocks in the prior week, prompting caution among investors amidst macroeconomic uncertainties.