The Nigerian stock market closed the week in negative territory, shedding approximately ₦516 billion in market capitalization after an extended period of bullish gains.

Data from the Nigerian Exchange (NGX) revealed that the All-Share Index fell by 0.56%, reflecting widespread profit-taking by investors eager to lock in recent gains. The sell-off cut short the market’s upward momentum, which had been sustained for several weeks.

Market analysts attributed the downturn to a combination of portfolio rebalancing and short-term sentiment shifts, noting that such corrections are common after prolonged rallies. They added that while the pullback may unsettle some investors, it could also create fresh buying opportunities in undervalued stocks.

Despite the week’s losses, year-to-date performance remains positive, underpinned by strong corporate earnings and improving macroeconomic indicators. Market watchers will be monitoring upcoming economic data releases and corporate disclosures to gauge the next phase of market direction.