NGX Market Wrap August 3 2026 | Plus234Feed
The Nigerian Exchange closed at 245,610.75 points on August 3, 2026, amid divergent price action as top gainers posted double-digit advances while heavyweight stocks suffered comparable declines. Trading activity remained robust with ₦28.2 billion in value exchanged across 571.6 million shares.
Monday's session painted a picture of sectoral rotation and selective profit-taking on the Nigerian bourse, with the market unable to establish clear directional momentum despite healthy trading volumes.
On the upside, ETERNA (NGX: ETERNA) and CAVERTON both surged 10.00%, with ETERNA adding ₦3.30 to close at ₦36.30, signalling renewed interest in smaller-cap equities. OMATEK (+9.88%), AVACAP (+9.70%), and MCNICHOLS (NGX: MCNICHOLS) (+8.70%) extended gains, suggesting investors rotated capital away from blue-chip holdings into overlooked names: a classic mid-session pattern when institutional players rebalance portfolios.
However, losses in heavyweight stocks threatened to overshadow these advances. ETI (NGX: ETI) declined 9.95% to ₦80.10, wiping ₦8.85 in absolute terms, while CADBURY slumped 9.92%, shedding ₦6.40 to settle at ₦58.10. These declines likely reflect profit-taking following previous rallies or broader sector headwinds in consumer goods and financial services. CMFC (NGX: CMFC) (-9.79%), TRANSEXPR (-9.57%), and REGALINS (-9.09%) extended the selloff.
Volume concentration in UNIVINSURE (50.5 million shares), ACCESSCORP (41.8 million), and STERLINGNG (35.8 million) underscores institutional interest in liquid blue-chips, despite their price weakness. The ₦158.5 trillion market cap reflects resilience, though today's mixed action suggests caution remains warranted.
Investors should monitor whether tomorrow's session sustains the small-cap rally or returns focus to defensive positioning in mega-cap stocks.
