Nigerian equities extend bearish run for fifth straight session, lose N106.24 billion

Nigerian equities continued their downward trend for a fifth consecutive trading day on Monday, August 17, 2026, as the benchmark NGX All-Share Index (ASI) slipped 0.07% to close at 242,454.65 points, marking a loss of approximately N106.24 billion in market capitalisation. The year-to-date return moderated to 55.81%, as continued selling pressure in banking and insurance stocks pressured the index.

NGX Group, a key benchmark, fell 4.11% to N133.10, while NEM, Zenith Bank, and UBA also declined. Conversely, Dangote Sugar Refinery led the rebound with an 8.60% surge to N70.10, and NAHCO and Fidelity Bank also gained. However, the sectoral performance was mixed, with the NGX Insurance Index experiencing the steepest decline. Negative market breadth, with 36 stocks falling against 18 advancing, further underscored the session's overall bearish trend.

Trading activity was subdued, with volume down 5.89% and turnover dropping 49.40%. The decline marks five straight days of profit-taking since August 11, with the ASI and Market Capitalisation falling by 2.44% and 2.43% respectively. The sustained weakness reflects broad-based profit-taking across large-cap and sector-leading stocks, although the market remains significantly higher on a year-to-date basis.

Investors are expected to continue the bearish trend, though residual optimism may drive a recovery in the coming sessions.