The Nigerian equities market opened July with a sharp decline, shedding N2.39 trillion in value as selling pressure weighed heavily on investor sentiment.
The All-Share Index dropped 3.7 points in the session, marking a continuation of the bearish trend that has defined recent trading activity.
This latest drawdown follows a severe rout earlier in the week, when the market lost N3.64 trillion in a single day.
The cumulative effect of these outflows has pushed the total value lost from recent peaks to approximately N11 trillion.
The correction reflects deepening risk aversion among both domestic and foreign investors, who are accelerating capital flight ahead of the country's upcoming general election.
The broad-based nature of the sell-off suggests that sector-specific fundamentals are being overshadowed by macro-political uncertainty.