Market Capitalisation Falls To N88.8trn Amid Prolonged Sell-offs

The equities market of the Nigerian Exchange Limited NGX closed on a negative note on Wednesday as sustained sell-offs in bellwether stocks wiped off N781bn from investors' wealth.

At the end of the trading session, the market capitalisation dropped to N88.8tn from the previous day's N89.6tn, reflecting heightened bearish sentiment across key sectors. Similarly, the benchmark All-Share Index fell by 1,233.87 points, or 0.87 per cent, to close at 140,332.44 points.

This downturn extended the market's week-to-date loss to 3.42 per cent, despite a 5.35 per cent gain in the past four weeks and an overall year-to-date return of 36.34 per cent.