Nigerian stocks drop, investors lose N1.005tn as market cap falls

Nigerian stocks extended their bearish run on Thursday, July 31, 2026, with investors losing N1.005 trillion in market value after shedding N648 billion the previous day. Data from the Nigerian Exchange showed market capitalisation falling to N158.339 trillion from N159.344 trillion on Wednesday, while the All-Share Index dropped 1,617.91 points, or 0.66%, to close at 245,362.26. Year-to-date returns slipped to 57.67% and market breadth remained negative, with 44 stocks losing ground against 18 gainers. Top losers included Tripple Gee (-10% to N2.88), Lasaco Assurance (-9.92% to N2.18), and C&I Leasing (-9.84% to N5.50). On the gainers’ side, Legend Internet led with an 8.64% rise to N4.40, followed by Daar Communications (+7.32% to N1.76) and Sterling Financial Holdings (+6.67% to N8.00). Trading activity surged, with 2.10 billion shares worth N230.83 billion exchanged in 48,231 deals—a 177% jump in volume. First Holdco dominated, accounting for 1.57 billion shares worth N196.20 billion, or 74.8% of volume and 85% of total value. With the market still down but yearly returns firmly positive, will you hold your positions, buy the dip, or reallocate to less volatile assets?

SOURCE: https://dailypost.ng/2026/07/31/nigerian-stock-market-extends-decline-with-n1-005tn-massive-loss/