The Nigerian stock market suffered a massive blow on Tuesday as bearish trading sent shockwaves across the Nigerian Exchange Limited (NGX), wiping out an estimated ₦4.64 trillion in market value in a single day.
The All-Share Index (ASI) plunged by 5.01 per cent, closing at 141,327.30 points, in what analysts are describing as the worst one-day decline since 2010.
The sharp downturn reflects heightened investor sell-offs across key sectors, with blue-chip stocks taking significant hits amid mounting market uncertainty.
Market analysts attribute the slump to a combination of profit-taking activities, weak investor sentiment, and macroeconomic headwinds, including concerns over inflation and interest rate pressures.
Tuesday’s meltdown also dragged the market’s capitalization down from ₦92.63 trillion to ₦87.99 trillion, erasing weeks of prior gains.
According to analysts, the development signals a growing wave of caution among both retail and institutional investors, as they reassess portfolio risks amid ongoing economic volatility.
