Nigerian Equities Market Sheds 276 Billion Naira in Market Value Amid Intensified Sell Pressure on Key Tickers

Investors on the Nigerian Exchange lose N276 billion as sell pressure hits 34 stocks, pulling the All-Share Index down to 200,484.43 points.

By: AXL Media

Published: Mar 31, 2026, 5:55 AM EDT

Source: The information in this article was sourced from NewsDiary Online

Bearish Sentiment Dominates Opening Session on Nigerian Exchange

The Nigerian equities market experienced a notable downturn as the trading week opened, with investors witnessing a collective loss of N276 billion in market value. This bearish trend was primarily driven by aggressive sell-offs in several high-profile stocks, including Secure Electronic Technology and May & Baker. By the close of the session, the total market capitalization had retreated by 0.21 percent, settling at N128.693 trillion compared to the previous close of N128.969 trillion, signaling a cautious atmosphere among market participants.

Benchmark Index Retreats Following Broad Based Sell Offs

Reflecting the negative market sentiment, the All-Share Index (ASI) fell by 428.63 points, closing the day at 200,484.43. This decline represents a 0.21 percent drop from the 200,913.06 points recorded in the preceding session. Consequently, the year to date return for the market has eased to 28.84 percent. The market breadth, a key indicator of overall health, remained firmly negative as 34 stocks recorded price depreciations against only 27 gainers, highlighting the prevailing downward pressure across various sectors.

Leading Losers and Significant Price Depreciations

Secure Electronic Technology emerged as the session's worst performer, suffering a maximum 10 percent drop to close at N1.17 per share. Other companies experiencing significant declines included the pharmaceutical firm May & Baker, which fell by 9.42 percent to N38, and Legend Internet, which saw its value decrease by 8.67 percent to N6.85. Additionally, Cutix and Fortis Global Insurance recorded losses of 8.29 percent and 7.97 percent respectively, contributing to the overall erosion of market value during the day's trading.