The Nigerian stock market recorded a significant downturn in the last five days as investors at the Nigerian Exchange Limited, NGX, lost a massive N2.8 trillion between November 3 and 7, 2025.

Equity market capitalisation fell sharply to N94.9 trillion, while the All-Share Index, ASI, declined by 2.99 per cent, dropping to 149,524.81 points from the previous week’s 154,126.46 points.

The market traded bearish throughout the week under review.

On Monday alone, investors shed N245.88 billion. The negative trend continued on Tuesday with a further loss of N611.96 billion. By Wednesday, the market posted its worst decline of the week, with investors losing N1.31 trillion in a single trading session — the largest drop recorded during the period.

The sell-offs persisted as the market dipped again by N347.75 billion on Thursday and closed the week weaker with an additional loss of N318.78 billion on Friday, pushing the total weekly loss to N2.8 trillion.

Meanwhile, market activity also slowed.

Investors traded 3.575 billion shares valued at N107.011 billion in 146,429 deals, compared to the previous week’s 7.479 billion shares worth N145.429 billion exchanged in 159,487 deals.

The financial services industry dominated the trading volume chart with 2.946 billion shares worth N65.904 billion across 62,817 deals. Fidelity Bank Plc, FCMB Group Plc, and Aso Savings & Loans Plc led trading by volume, accounting for 1.288 billion shares valued at N19.3 billion in 11,536 deals, representing 36.03 per cent and 18.08 per cent of the total market turnover in volume and value, respectively.

In price movement, 20 equities appreciated during the week—down from 29 in the previous week. Meanwhile, 75 equities declined, higher than the 70 recorded previously, while 51 remained unchanged.

NCR (Nigeria) Plc recorded the highest price gain at 20.94 per cent, followed by Eunisell Interlinked Plc with a 20.17 per cent increase and Union Dicon Salt Plc with a 9.93 per cent rise.

On the losers’ side, Sovereign Trust Insurance Plc led with a 28.21 per cent decline, followed by C & I Leasing Plc, which dipped by 20.16 per cent. Skyway Aviation Handling Company Plc also fell by 18.99 per cent over the course of the week.

The latest performance underscores continued investor concerns over market volatility, macroeconomic uncertainty and profit-taking activities across multiple sectors.

This comes after President Donald Trump designated Nigeria as a Country of Particular Concern over the alleged killing of Christians.

Trump thereafter threatened to take military action in Nigeria.

The development may have impacted investors’ confidence in Nigeria’s stock market in the week under review.