Nigerian Stocks Decline by N1.67 Trillion in Two Days

On Wednesday, the Nigerian stock market recorded a second straight day of losses, with selling pressure across major listed equities resulting in a decline of N1.67 trillion from the total market value. The Nigerian Exchange (NGX) All-Share Index decreased by 2,579.01 points, or 1.05%, closing at 242,223.10 points.

The overall market capitalization settled at N157.050 trillion, bringing the year-to-date return down to 55.66%. During this session, 44 stocks declined while only 11 advanced.

Champion Breweries led the gainers with a 9.90% increase, while several stocks, including Omatek and Zichis Agro-Allied Industries, each fell by 10%. Investor participation weakened, with a total of 534.45 million shares traded, valued at N22.28 billion, marking a 29.0% drop in traded volume compared to the previous session.

Analysts described the trading session as dominated by bearish sentiment, indicating reduced market engagement.