Investors on the Nigerian Exchange Limited (NGX) have suffered fresh losses totalling N1.50 trillion over the last three trading sessions, as the stock market extended its bearish momentum from Monday through Wednesday.

DAILY POST reports that the market opened the week with a massive N1.17 trillion loss on Monday, followed by N110.20 billion on Tuesday, and another N216 billion slump on Wednesday, bringing the cumulative loss to N1.50 trillion.

The extended sell-off dragged the All-Share Index (ASI) from 145,159.77 points on Monday to 144,986.51 on Tuesday, and further down to 144,646.01 points on Wednesday.


Market capitalisation also reflected the downturn, dropping successively to N92.329 trillion, N92.218 trillion, and N92.002 trillion within the same period.

Market data showed that the latest dip is due to the persistent sell-offs in major stocks, including Dangote Cement, Universal Insurance, ABC Transport, and LivingTrust Mortgage Bank, among others.

Meanwhile, a handful of equities bucked the negative trend, with NCR Nigeria, Sovereign Trust, Tantaliser, UAC, Caverton, and Prestige Insurance emerging as top gainers.

The renewed decline comes just a week after the NGX showed early signs of recovery from a historic market crash that wiped out N7 trillion from investors’ portfolio.