The Nigerian Exchange (NGX) has seen its year-to-date return fall below the 50% threshold for the first time in 2026, wiping out approximately N982.96 billion in market value.
The decline marks a notable reversal in sentiment, erasing a significant portion of the gains accumulated earlier in the year.
52 trillion in value as investors returned after several sessions of declines.
This pullback follows a sharp recovery at the start of the week, during which the market added N1.52 trillion in value as investors returned after several sessions of declines.
The rebound was broad-based, suggesting a temporary stabilization of investor confidence.
However, the subsequent erosion of value indicates that buying interest has cooled, and selling pressure has returned to the forefront.
The volatility underscores the fragile nature of the current rally in Nigerian equities.