Nigerian stock market drops ₦1.37 trillion as investors cash out of banking stocks
TL;DR
The All-Share Index fell 0.94% on Monday to 223,602.29 points, wiping ₦1.37 trillion from market capitalisation, which dropped from ₦145.34 trillion to ₦143.97 trillion.
Major banking stocks led the losses. UBA, First HoldCo, and Access Holdings each fell close to 10%, following a strong rally the previous week, with Zenith Bank topping trading volume at 76.07 million shares worth ₦9.53 billion.
Despite the decline, trading activity remained robust at 678.17 million shares across 82,838 deals, suggesting institutional investors are repositioning rather than exiting, with selective gains in small-cap stocks and ETFs pointing to rotational buying.
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