Nigerian Equities Market Loses N260 Billion in 11 Days

On August 26, 2026, the Nigerian equities market continued its bearish trend, marking the 11th consecutive session of losses after the Eid-Ul-Mawlid public holiday. The market saw a decline of approximately N259.76 billion, with the benchmark NGX All-Share Index (ASI) dropping 0.17% to close at 238,682.92 points, down from 239,085.17 points.

This decline pushed market capitalisation down to N154.14 trillion from N154.40 trillion, as investors engaged in profit-taking following a strong rally earlier in the month. The year-to-date return remained positive at 53.38%.

The decline was primarily driven by weakness in banking, healthcare, and consumer goods sectors, while Neimeth International Pharmaceuticals and NEM Insurance were among the few gainers. The NGX Insurance Index recorded the largest sector decline at 0.94%.

Despite the overall market weakness, trading activity increased, with total volume rising 9.67% to 733.35 million shares valued at N34.52 billion. Analysts at Cowry Asset Management Limited predict that the market will continue its bearish trend amid ongoing profit-taking.