The Nigerian Exchange Limited (NGX) has experienced a significant decline in market value, with investors suffering losses totaling N1.50 trillion over the course of three trading sessions. This downturn, which occurred from Monday to Wednesday, is attributed to a persistent sell-off in major stocks, including Dangote Cement, Universal Insurance, ABC Transport, and LivingTrust Mortgage Bank.

The All-Share Index (ASI) dropped from 145,159.77 points on Monday to 144,986.51 points on Tuesday, and further decreased to 144,646.01 points on Wednesday. Consequently, market capitalization also declined, falling to N92.329 trillion, N92.218 trillion, and N92.002 trillion over the same period. The losses incurred on each day were N1.17 trillion on Monday, N110.20 billion on Tuesday, and N216 billion on Wednesday.

Despite the overall negative trend, a few equities managed to buck the trend, with NCR Nigeria, Sovereign Trust, Tantaliser, UAC, Caverton, and Prestige Insurance emerging as top gainers. The recent decline comes on the heels of a historic market crash that resulted in a loss of N7 trillion from investors’ portfolios. This crash had shown early signs of recovery just a week prior to the current downturn.

The Nigerian stock market’s performance is a significant indicator of the country’s economic health. The recent losses may have far-reaching implications for investors and the overall economy. As the market continues to fluctuate, investors will be closely watching for any signs of recovery or further decline. The NGX’s ability to rebound from this downturn will be crucial in restoring investor confidence and promoting economic growth. With the market’s history of volatility, it is essential to monitor its performance closely and analyze the factors contributing to its fluctuations.