Nigerian Stock Market Loses ₦1.17tn, Ends Winning Streak

On Tuesday, the Nigerian equities market concluded its four-day bullish run, experiencing a significant loss of approximately ₦1.166 trillion as sell-offs in key stocks impacted investors' portfolios. The market capitalization at the Nigerian Exchange Limited decreased by 0.73 percent, from ₦160.421 trillion to ₦159.255 trillion.

The NGX All-Share Index fell by 1,806.18 points, closing at 246,723.57. This decline moderated the market's year-to-date return to 58.55 percent.

Despite the overall downturn, market breadth remained slightly positive, with 28 gainers compared to 27 losers. Thomas Wyatt Nigeria led the losers with a 9.97 percent drop to ₦2.89 per share, followed by AVA Capital and International Energy Insurance.

On the gainers' side, UPDC Real Estate Investment Trust saw a 10 percent increase to ₦14.85. Market activity surged, with 3.909 billion shares valued at ₦32.38 billion traded across 45,608 transactions, largely driven by Fortis Global Insurance, which accounted for 84.22 percent of the total trading volume.