The Nigerian equities market declined on Tuesday, with the NGX All-Share Index (NGX-ASI) falling by 1.17% to close at 244,802.11 points, reducing its year-to-date gain to 57.31%. Market capitalisation also declined to NGN158.72 trillion, representing an estimated NGN1.88 trillion reduction in investors’ wealth from the previous session.

Market sentiment deteriorated sharply, with only 4 gainers against 63 decliners among the 133 securities traded, resulting in a deeply negative market breadth of 0.06x. Similarly, the UD ratio closed at 0.04x, reflecting the broad-based selling pressure across the market.