The Nigerian equities market extended its losing streak on Wednesday, as the NGX All-Share Index (ASI) fell by 1.44% to close at 243,132.61 points. The downturn erased about N2.28 trillion in investor wealth, pulling market capitalisation down to N155.94 trillion amid sustained sell pressure.
Data from the Nigerian Exchange Group showed that the third straight session of losses was driven largely by profit-taking in heavyweight stocks such as MTN Nigeria, Lafarge Africa, First HoldCo, and NGX Group, which weighed heavily on overall market sentiment.
Despite the bearish close, trading activity remained robust as investors continued to reposition portfolios. Market breadth stayed negative with 43 losers against 15 gainers, while year-to-date returns eased to 56.24% from 58.53%, reflecting a cooling momentum after recent strong gains.
