NGX loses N4.5tn in six sessions after Tinubu visit, market down 0.35% Tuesday
Investors lost approximately N4.5 trillion across six straight trading sessions after NGX Group Chairman Umaru Kwairanga and CEO Temi Popoola met President Tinubu at the Presidential Villa on August 6. The decline comprised N3.8 trillion lost in four sessions last week, followed by N106 billion on Monday August 17 and N544 billion on Tuesday August 18.
On Tuesday, the NGX’s market capitalisation slipped from N156.517 trillion to N155.973 trillion, a 0.35% drop that pulled the All-Share Index down 843.42 points to 242,454.65. Year-to-date returns eased to 55.26%, with market breadth showing 37 losers versus 22 gainers. Red Star Express led the losers’ list, while Haldane McCall topped gainers with a 9.97% rise to N3.20. Sterling Nigeria posted the highest volume at 51.57 million shares (12% of turnover), and MTN Nigeria accounted for N9.76 billion in trade value, 35.5% of the session’s total.
The sustained sell‑off has wiped nearly N4.5 trillion from investor wealth, raising concerns about market stability after the presidential meeting. Will you treat this as a buying opportunity, hold existing positions, or reduce exposure until sentiment stabilizes?