NGX loses N581 billion as market slump extends to fourth straight session

The Nigerian Exchange Group recorded a continued downturn on the equities market as investors lost about N581 billion in market value, extending the bearish run to a fourth consecutive trading session.

Market data showed that the decline was driven largely by sustained profit-taking in blue-chip stocks, which weighed on key performance indicators and triggered broad-based losses across major sectors.

The downturn reflects weakening investor sentiment, with trading activity tilted toward sell-offs as market participants locked in recent gains.

Analysts note that the sustained slide underscores ongoing volatility in the local bourse, even as investors continue to react to changing macroeconomic conditions and corporate earnings expectations.

Despite the recent losses, market operators say periodic corrections remain a normal feature of the equities market, especially after periods of strong gains.

At the close of trading, the negative performance further pressured the benchmark index, marking one of the most sustained declines in recent weeks.