Investors on the Nigerian Exchange Limited recorded a cumulative loss of N5.45 trillion as the equities market extended its bearish run to an eighth consecutive session on Thursday, wiping out previous gains across the board.
The downturn has persisted over two distinct phases. In the preceding week, four straight sessions of selling pressure erased N3.8 trillion in value. The current week added a further N1.65 trillion in losses from Monday through Thursday, bringing the eight-session total to N5.45 trillion.
Thursday’s session alone saw investors shed N440 billion as profit-taking in large- and mid-cap stocks continued to drive the decline. Market capitalisation fell 0.30 per cent, sliding from N155.417 trillion at the open to N154.977 trillion at the close.
Despite the broad retreat, Haldane McCall topped the gainers’ chart with a 9.38 per cent advance to close at N3.85. International Energy Insurance led the losers, dropping 9.85 per cent to N4.30.
The insurance sector has come under particular strain following the implementation of the Nigerian Insurance Industry Reform Act 2025. The National Insurance Commission’s recent revocation of licences for Universal Insurance and Nigeria Reinsurance has amplified negative sentiment toward insurance stocks, contributing to the sector’s underperformance amid the wider sell-off.
The sustained decline marks a sharp reversal for a market that had previously posted strong gains, raising questions about the durability of the current correction and the impact of regulatory changes on investor confidence. Market participants are now watching for signs of stabilization or further downside in coming sessions.
