NGX sell-off wipes N5.9 trillion, BUA Foods, MTN take biggest hit
The Nigerian equities market has shed N5.9 trillion in market value in a punishing two-week sell-off, with market capitalisation tumbling from a month-high N160.42 trillion on Monday, August 10, 2026, to N154.53 trillion on Friday, August 21. The post NGX sell-off wipes N5.9 trillion, BUA Foods, MTN take biggest hit appeared first on Nairametrics .
The Nigerian equities market experienced a significant sell-off, resulting in a N5.9 trillion loss in market value over a two-week period. BUA Foods and MTN Nigeria were the two biggest losers, with their market values falling by N1.521 trillion and N1.386 trillion, respectively. The overall Index dropped by 9,178.59 points, or 3.69%, reaching its lowest level since July 8, 2026.
The sell-off was exacerbated by dividend adjustments and prolonged profit-taking across major sectors, with 12 blue chip stocks accounting for 70.7% of the total market value loss. Despite the market's negative streak, it remains positive on a year-to-date basis.
Brief written by urgent.news from Nairametrics's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
