Nigerian Stock Market Loses N4.6 Trillion in Decade-High Panic-Driven Sell-Off
The Nigerian stock market witnessed a massive decline of N4.6 trillion, the largest in ten years, attributed to panic selling and poor investor confidence following disappointing third-quarter earnings. The market recorded its biggest daily loss in a decade, with key performance indicators plummeting sharply.
Market breadth was overwhelmingly negative, with only a few stocks advancing. Various sectors, including industrial, banking, oil and gas, insurance, and consumer goods, suffered losses.
Despite increased trading volume and value, the market endured a bearish trend, resulting in a significant decrease in investor wealth.
Plus234Feed summary based on reporting from Daily Trust. Read the original report below.
Read full article
Continue on Daily Trust
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Nigerian Stocks Plummet, Wipe Out ₦2.8 Trillion Amid Investor Panic and Geopolitical Tensions
Nigerian Stock Market Investors Lose N2.1 Trillion in One Week
Nigerian Stock Market Loses Over N4 Trillion in Value in Single-Day Selloff
Nigerian Equities Investors Lose N1.17 Trillion in Fresh Sell-Offs
Nigerian Stock Market Plunges N2.5 Trillion Amid Trump's Military Action Comments
Nigerian Stock Market Sees Record N1.3 Trillion Dip in November
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
