Nigerian Equities Market Slumps 0.7% Amid Broad Selloffs

The Nigerian equities market witnessed a 0.7% decline as the All-Share Index fell to 154,260.96 points due to renewed selling pressure across key sectors. Market capitalization also decreased by approximately N690 billion, slipping to N19.61 trillion.

The downturn was influenced by cautious investor sentiment ahead of key corporate earnings releases and ongoing macroeconomic concerns. Despite the bearish trend, some stocks closed flat, including Airtel Africa Plc (NGX: AIRTELAFRI), Cadbury Nigeria Plc (NGX: CADBURY), and Nestle Nigeria Plc (NGX: NESTLE).

Investors are seen reallocating towards defensive sectors with stronger dividend prospects.