Investors on the Nigerian Exchange Limited (NGX) lost about ₦544 billion in market value as the equities market extended its decline to six consecutive trading sessions.

Market capitalisation fell from ₦156.52 trillion on Monday to ₦155.97 trillion on Tuesday, while the NGX All-Share Index declined by 0.35 per cent to close at 241,613 points.

The latest decline was driven largely by selling pressure in major banking stocks, as investors moved to lock in gains following recent rallies in the sector.

Despite the continued losses, the Nigerian equities market remains significantly higher on a year-to-date basis, reflecting the strong performance recorded earlier in the year.