Sell-offs Persist as Stock Market Sheds N440bn
Kayode Tokede The Nigerian stock market extended its downward momentum for the eighth consecutive session, its longest losing run so far in 2026, as the market capitalisation, yesterday dropped by
The Nigerian stock market entered its eighth day of decline, marking the longest losing streak in 2026 so far, with the market capitalization falling by N440 billion to N154.977 trillion. The NGX All-Share Index declined 712.67 basis points or 0.30 per cent to close at 240,037.80. Investor sentiment remained cautious as 28 stocks fell for every 14 that advanced.
Haldane McCall led gains with a 9.38 per cent increase, while Trans-Nationwide Express and McNichols rose by 8.90 per cent and 8.33 per cent, respectively. On the downside, International Energy Insurance and Wapic Insurance declined by 9.85 per cent and 9.84 per cent, respectively. Total trading volume surged by 140.7 per cent to 2.87 billion units, amounting to N33.995 billion and 34,725 transactions.
Fortis Global Insurance saw the highest trading activity with 255.544 million shares worth N5.238 billion. Experts anticipate the market to continue its downward trend due to profit-taking, though a recovery may occur due to portfolio adjustments and strategic repositioning.
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