NGX sheds N555 billion as Aradel plunge deepens seven-day market slide
The Nigerian equities market extended its decline on Wednesday, August 19, 2026, with the All-Share Index (ASI) falling for a seventh consecutive trading session, as renewed selling pressure in oil and gas heavyweights, particularly Aradel Holdings, deepened the ongoing correction. The post NGX sheds N555 billion as Aradel plunge deepens seven-day market slide appeared first on Nairametrics .
On Wednesday, August 19, 2026, the Nigerian equities market continued its decline, with the All-Share Index (ASI) slipping for a seventh consecutive trading day. The NGX All-Share Index (ASI) closed at 240,750.47 points, down from 241,611.23 points the previous day, marking a 0.36% decrease. Market capitalization fell to N155.42 trillion from N155.97 trillion, resulting in a loss of approximately N555.68 billion during the session.
Aradel Holdings was the primary culprit behind the market's downturn, falling 9.99% to close at N1,374.20 per share, which is a loss of N152.60 per share. This decline marked the most significant single-stock drop of the day and was responsible for the sharp decline in the Oil & Gas Index. However, UAC Nigeria emerged as the strongest gainer of the day, surging 6.56% to close at N177.85 per share.
The Oil & Gas Index experienced its most substantial single-session drop of the year, falling 4.63% to close at 4,960.82 points. Trading activity intensified during the session, with shares trading volume surging 177.65% to 1.19 billion, and turnover increasing 37.62% to N37.82 billion. Despite the correction, the NGX remains positive for the year, having risen from 248,529.75 points on Monday, August 10.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
