NGX Suffers N2.8 Trillion Weekly Loss as Investors Dump Stocks Amid Tax, Geopolitical Fears
The Nigerian Exchange (NGX) ended the week deep in the red as the All-Share Index (ASI) plunged for the fifth straight session, wiping out a staggering N2.8 trillion in market value.
At the close of trading on Friday, November 7, 2025, the ASI fell by 501.7 points to settle at 149,524.8, representing a 0.33% decline from the previous day’s 150,026.6 points. This capped a turbulent week for equities, with the benchmark index down 2.11% overall.
Market activity also cooled as investors traded 527 million shares, a drop from 619 million recorded on Thursday. The total equity capitalization slipped to N94.9 trillion across 24,637 deals, compared to N95.3 trillion in the previous session.
Why Investors Are Selling
Market analysts and investors who spoke to Nairametrics linked the selloff to fears over the federal government’s proposed 25% capital gains tax, slated to begin in January 2026. The tax, which targets profits above N150 million, has sparked concerns about reduced investment returns.
Adding to the pressure are geopolitical jitters following U.S. President Donald Trump’s threat of military action against Nigeria, a statement that has rattled foreign investors and accelerated capital flight from local equities.
Top Gainers and Losers
On the gainers’ chart, NCR and MCNICHOLS led the pack, rising 9.94% and 9.82%, respectively.
Conversely, BERGER and CILEASING topped the decliners’ list, shedding 10.00% and 9.86%, respectively.
In terms of trading volume, WEMABANK and CONHALLPLC emerged as the most active stocks, dominating market turnover for the day.
With the NGX now on a five-day losing streak and investor sentiment deteriorating, analysts warn that unless fiscal and geopolitical uncertainties ease soon, the market could face an even deeper correction in the coming weeks.
