Nigerian Stocks Dip After 12-Day Rally

THE Nigerian stock market ended its 12-day winning streak on Tuesday, recording a modest loss as investors booked profits.

Market capitalisation fell by ₦4 billion to ₦93.756 trillion, while the All-Share Index slipped by 6.27 points to 147,710.96. The downturn was driven by selloffs in Austin Laz, Deap Capital, Fidson, Caverton, and Berger Paints, among others, as 36 stocks declined against 23 gainers.

Trading volume and value also dropped sharply, with 262.5 million shares worth ₦8.3 billion exchanged—down from 624.6 million shares valued at ₦13.5 billion in the previous session.

Fidelity Bank led activity with 41.3 million shares, followed by Access Corporation and CHAMS.

Market analyst David Adonri of Highcap Securities attributed the decline to “market fatigue” after a long rally, noting it was a normal correction ahead of expected Q3 earnings reports, which could reignite investor interest.