Investor Profit-Taking Sends Nigerian Equities Market Tumbling, All Share Index Falls Significantly

The Nigerian stock market fell significantly, with the All Share Index plunging by 1.49% and the total market value dropping by N856 billion. This collapse was fueled by investors looking to cash in on gains from fixed-income assets, resulting in widespread profit-taking.

Despite the current trend, analysts highlight the market’s attractiveness and warn against panic selling.

The market saw more losers than winners, with significant falls in equities such as Access Holdings and Guinness Nigeria, while UPDC saw the most significant increase. Total turnover also fell, indicating a slowing of market activity.