Nigerian Market Loses N1.67 Trillion Amid Sell-Off
On September 9, 2026, the Nigerian equities market faced continued pressure as the benchmark All-Share Index (ASI) fell by 1.05%, closing at 242,223.10 points and erasing approximately N1.67 trillion in market capitalization. This decline followed a steep loss of N1.88 trillion the previous day, bringing the total market capitalization loss over two days to N3.55 trillion.
The ASI is now down 5,476.68 points from a high of 247,699.78 points on Monday. The sell-off was largely attributed to significant declines in heavyweight stocks such as BUA Cement, which dropped 10.00% to N278.10.
Despite the overall downturn, Champion Breweries saw a 9.90% increase. The market breadth remained weak, with only 11 stocks advancing against 44 decliners.
Trading volumes decreased by 29.04% to 534.45 million shares, with a turnover value of N22.28 billion. The upcoming Dangote Refinery IPO subscription window, opening on September 14, is influencing investor behavior.
Plus234Feed summary based on reporting from Nairametrics. Read the original report below.
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