Nigerian Stock Market Loses N440bn in Eighth Session

The Nigerian stock market continued its downward trend for the eighth consecutive session, marking its longest losing streak in 2026. On the reported day, the market capitalization decreased by N440 billion, closing at N154.977 trillion.

The Nigerian Exchange Limited All-Share Index (NGX ASI) fell by 712.67 basis points or 0.30%, ending at 240,037.80 basis points. Investor sentiment remained negative, with 28 decliners surpassing 14 advancers.

Haldane McCall was the highest price gainer, increasing by 9.38% to close at N3.85 per share. In contrast, International Energy Insurance led the losers with a decline of 9.85%, closing at N4.30 per share.

Total traded volume surged by 140.7% to 2.87 billion units, valued at N33.995 billion across 34,725 deals. Fortis Global Insurance led trading activity with 255.544 million shares worth N5.238 billion.

Cowry Assets Management Limited projected that the market would likely continue its bearish trend due to ongoing profit-taking, although there could be a potential recovery driven by portfolio adjustments.