Shares on the Nigerian Exchange swung lower over two straight sessions, with investors booking a combined loss of N2.29 trillion as the market moved into the next phase of the T+ settlement cycle.
Key takeaways
- Investors posted a total N2.29 trillion decline across two days of trading.
- The All-Share Index ended Tuesday down 874 points, or 0.35%, at 246,686.66.
- Market capitalisation fell from N158.697 trillion at the start of Tuesday to N158.219 trillion by the close.
- Year-to-date returns eased to 58.53%, with market breadth ending negative at 38 decliners versus 14 advancers.
- Trading activity cooled, with 718.8 million shares worth N29.3 billion changing hands in 71,683 deals.
Two-day sell-off deepens as investors shed trillions
Trading began on Monday with a sharp retreat, when investors wiped out N1.81 trillion as the market opened the T+1 settlement period. The pressure continued on Tuesday, where the equities market closed in the red again, recording an additional loss of N478 billion—taking the two-day total to N2.29 trillion.
By Tuesday’s close, market capitalisation dropped from an opening figure of N158.697 trillion to N158.219 trillion. The All-Share Index also slid, dropping by 874 points, equivalent to 0.35%, to finish at 246,686.66 compared with 247,560.66 at the previous close.
As prices weakened, the market’s Year-to-Date (YtD) performance softened to 58.53%. Breadth remained broadly negative, ending the session with 38 stocks falling and 14 rising.
Losers dominate while activity and turnover fall
In Tuesday’s decliners, PZ Cussons and Computer Warehouse Group both led with losses of 10%, closing at N88.20 and N21.60 per share, respectively. ABC Transport fell 9.95% to close at N6.88, Wema Bank declined 9.09% to finish at N30, and Sovereign Trust Insurance dropped 8.16% to end the day at N2.70 per share.
On the gainers’ side, International Energy Insurance topped the board with a 9.86% rise to close at N5.46. Trans-Nationwide Express gained 7.14% to finish at N5.10, while Neimeth Pharmaceuticals advanced 6.80% to close at N11 per share.
Market turnover also weakened. Total volume, value, and deal count declined as 718.8 million shares worth N29.3 billion were traded across 71,683 transactions. This contrasted with the prior session, when 1.127 billion shares valued at N44.3 billion were exchanged in 91,880 deals.
Access Corporation led by volume, with 113.10 million shares traded, representing 10.03% of the day’s total volume. Zenith Bank was the most actively traded by value, with deals totalling N4.81 billion, accounting for 10.85% of overall market turnover.
The pullback comes as Nigeria’s capital market begins the T+ settlement circle on June 1, 2026.
