Nigerian stock market investors have lost approximately N4.5 trillion over six consecutive trading sessions, extending a bearish run that began last week and continued through Tuesday. The prolonged sell-off saw investors shed N3.8 trillion in four trading sessions last week, followed by additional losses of N106 billion on Monday and N544 billion on Tuesday this week.
The downturn coincides with a visit by Nigerian Exchange Group management, led by Chairman Umaru Kwairanga and Group Managing Director Temi Popoola, to President Bola Tinubu at the Presidential Villa on August 6. Since that meeting, the equities market has recorded six straight sessions of declines, with the combined loss now standing at N4.45 trillion.
Trading data for Tuesday showed market capitalisation falling from N156.517 trillion to N155.973 trillion, a 0.35 per cent decline at the close. The All-Share Index dropped by the same margin, shedding 843.42 points to settle at 242,454.65 points from 243,298.07 points in the previous session. The market’s year-to-date return moderated to 55.26 per cent.
Market breadth closed negative, with 37 stocks recording losses against 22 gainers. The decline was driven by increased sell-offs, with Red Star Express leading the losers’ chart, followed by Trans-Nationwide Express, Meyer, Chellaram and Fortis Global Insurance. Despite the broad downturn, Haldane McCall topped the gainers’ list, rising 9.97 per cent to close at N3.20. Veritas Kapital Assurance gained 7.09 per cent to N1.36, while Tantalizer appreciated 5.26 per cent to N4 per share.
Volume analysis showed Sterling Nigeria recording the highest trading activity with 51.57 million shares, representing 12 per cent of total volume Traded on Tuesday. MTN Nigeria dominated by value, accounting for N9.76 billion or 35.50 per cent of the total transaction value during the session.
The continued sell-off reflects heightened pressure in the equities market, with investors’ cumulative losses over the six sessions now approaching N4.5 trillion. Market participants are monitoring for potential regulatory or policy responses as the losing streak persists.
