Investors on the Nigerian Exchange lost N1.17 trillion on Tuesday as the market snapped a four-day winning streak, with the benchmark index shedding more than 1,800 points amid broad-based selling pressure.
Market capitalisation declined 0.73 per cent to close at N159.255 trillion, down from N160.421 trillion in the previous session. The All-Share Index fell 1,806.18 points to settle at 246,723.57 points, pulling the year-to-date return down to 58.55 per cent.
The downturn came despite a slightly positive market breadth, with 28 stocks advancing against 27 decliners. Thomas Wyatt Nigeria led the losers’ chart, dropping 9.97 per cent to N2.89. AVA Capital followed with a 9.60 per cent decline to N8.95, while International Energy Insurance lost 6.32 per cent to close at N4. International Breweries shed 5.98 per cent to end at N11.
On the gainers’ side, UPDCREIT topped the chart with a 10 per cent rise to N14.85. FTN Cocoa Processors gained 9.88 per cent to N8.90, while C&I Leasing advanced 8.26 per cent to N5.90. Sovereign Trust Insurance rose 6.74 per cent to N1.90, and Regency Alliance Insurance added 6.33 per cent to 84 kobo.
Trading activity surged significantly, with volume jumping to 3.909 billion shares valued at N32.38 billion across 45,608 deals. This compared with 1.137 billion shares worth N27.02 billion exchanged in 59,185 deals on Monday.
Fortis Global Insurance dominated the session, accounting for 3.29 billion shares valued at N9.58 billion. The insurer represented 84.22 per cent of total Traded volume and 29.57 per cent of total value, underscoring concentrated interest in a single counter amid the broader selloff.
The sharp reversal highlights the market’s sensitivity to profit-taking after sustained gains, with heavy volume in a single stock masking underlying fragility across the broader index. Analysts will watch whether the positive breadth signals resilience or merely a temporary divergence as the exchange navigates the next trading sessions.
