The Nigerian Exchange (NGX) continued its losing streak on Tuesday as sustained sell-offs dragged the market further into the red, wiping out ₦611.97 billion in investors’ wealth.
The persistent bearish sentiment has been attributed to weak third-quarter earnings reports from key banking and consumer goods firms, which have dampened investor confidence and discouraged bargain hunting.
Data from the NGX revealed that the All-Share Index fell by 0.72%, closing at 152,629.60 points, while the total market capitalization declined to ₦96.97 trillion.
Market breadth remained negative as 40 stocks recorded losses compared to only 17 gainers, resulting in a weak 0.4x breadth ratio.
Trading volume rose by 8.99% to 683.92 million shares, but the total value of transactions dropped by 18.5% to ₦20.38 billion. The number of deals also declined by 8.61% to 33,288, signaling reduced participation from institutional investors.
Top gainers included EUNISELL, SUNUASSUR, HONYFLOUR, LIVESTOCK, and TIP, while NASCON, SKYAVN, OANDO, UPDC, and LEARNAFRICA led the list of losers with significant price declines.
Sectoral performance remained broadly negative, with the Insurance (-3.76%), Banking (-2.05%), Consumer Goods (-1.49%), Oil & Gas (-0.78%), and Industrial (-0.01%) indices all closing lower. The Commodity sector was the only segment that remained unchanged.
Analysts say the market’s trajectory may remain bearish in the short term as investors await stronger earnings outlooks and macroeconomic stability.
 continued its losing streak on Tuesday as sustained sell-offs dragged the market further into the red, wiping out ₦611.97 billion in investors’ wealth.){kind=link}