Nigerian Equities Investors Lose N1.17 Trillion in Fresh Sell-Offs

Last week, Nigerian equities investors suffered losses amounting to N1.17 trillion due to fresh sell-offs, reversing previous gains. The Nigerian Stock Exchange (NGX) opened the week on a bearish note, with the market capitalization reducing to N92.32 trillion.

The market downturn was triggered by new capital gains tax policies, leading to a sharp decline in key performance indicators. Notable decliners included companies like Dangcem, Transcorp, and Accesscorp.

Trade activities weakened, with total volume and value traded significantly decreasing. The market saw a decrease in the year-to-date return and a notable drop in the industrial goods sector.