The Nigerian Exchange (NGX) closed lower on Tuesday as broad selling pressure reversed Monday’s gains. The All-Share Index fell 1.17% to close at 244,802.11, while market capitalisation dropped to approximately ₦158.72 trillion.
Trading activity improved, with 753.14 million shares worth about ₦27.8 billion changing hands in 53,966 deals. However, market breadth was sharply negative: only 4 stocks advanced against 63 decliners.
Ellah Lakes led the gainers, rising 7.07% to ₦9.85. It was followed by NGX Group (+1.38% to ₦131.90), Learn Africa (+1.16% to ₦8.75) and Wema Bank (+0.68% to ₦29.70).
Selling was widespread across banking, insurance and mid-cap names. Ava Capital dropped 10% to ₦5.40, while Abbey Bank (−9.74%), FTG Insurance (−9.89%) and several other counters also posted sharp losses. Large-cap banking stocks faced notable pressure during the session.
Volume recovered strongly from Monday’s thin session, but the overwhelming number of losers pointed to profit-taking and risk-off positioning after the market briefly reclaimed the ₦160 trillion capitalisation mark the previous day.
The session reflected selective buying in a handful of names while the broader market came under sustained selling pressure. Investors will be watching whether bargain-hunting emerges or the correction extends into the rest of the week.
