{
  "id": 3590611,
  "title": "Nigerian equities sell-off stretches to 11th straight session, wiping out N260 billion",
  "url": "https://urgent.news/2026/08/26/nigerian-equities-sell-off-stretches-to-11th-straight-session-wiping",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-26T20:40:12.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/08/26/nigerian-equities-sell-off-stretches-to-11th-straight-session-wiping-out-n260-billion/"
  },
  "original_language": "en",
  "account": "Following the Eid-Ul-Mawlid public holiday, the Nigerian equities market continued its downward trend on Wednesday, August 26, 2026. Sustained selling across various sectors, including insurance, banking, consumer goods, and oil & gas stocks, resulted in a loss of approximately N259.76 billion, marking the eleventh consecutive day of losses. The NGX All-Share Index (ASI) fell 0.17%, closing at 238,682.92 points, a decline from 239,085.17 points the previous day. This move pushed the market further away from its psychological 240,000-point support level. Consequently, market capitalisation decreased to N154.14 trillion from N154.40 trillion. Despite the market's year-to-date return remaining positive at 53.38%, the decline was largely driven by weakness in banking, healthcare, and consumer goods names. However, Neimeth International Pharmaceuticals saw a gain of 9.66% to N7.95, and NEM Insurance increased by 6.67% to N32.00, providing some respite amid the broader selling. Sectoral performance was negative across the board, though the Industrial Goods Index remained relatively stable. The NGX Insurance Index experienced the steepest decline, falling 0.94% to 1,070.51 points. Market breadth remained negative, with 41 stocks declining compared to 17 advancers, indicating the depth of selling pressure. Trading activity increased as investors reassessed valuations, with total volume traded rising 9.67% to 733.35 million shares, valued at N34.52 billion, a 44.90% jump in value. Deal count also rose by 7.23% to 49,210 transactions. Analysts at Cowry Asset Management Limited anticipate the market will continue its bearish trend due to persistent profit-taking, though a recovery could occur through portfolio readjustment and strategic repositioning.",
  "summary": "Resuming after the Eid-Ul-Mawlid public holiday, the Nigerian equities market extended its bearish run on Wednesday, August 26, 2026, as sustained selling pressure across insurance, banking, consumer goods and oil & gas stocks wiped out approximately N259.76 billion, marking the 11th consecutive session of losses. The post Nigerian equities sell-off stretches to 11th straight session, wiping out…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}