Nigerian equities shed N599 billion in market value on Wednesday, driven by heavy selling in consumer staples and financials.
Shares of Nestlé Nigeria and First HoldCo were among the primary anchors of the decline, dragging the broader market lower.
91 billion in market value as selling pressure broadened across key sectors, led by heavyweights including First HoldCo and Zenith Bank.
The sell-off marks a continuation of the recent downturn on the Nigerian Exchange (NGX).
Earlier in the week, the benchmark index had already posted losses, with consumer staples weighing heavily on sentiment.
On Friday, investors wiped out N877.91 billion in market value as selling pressure broadened across key sectors, led by heavyweights including First HoldCo and Zenith Bank.
Nestlé Nigeria and BUA Foods previously posted maximum losses, signaling persistent weakness in the consumer goods segment.