Nigerian Stock Market Drops N3.54tn in Three Days

The Nigerian stock market, under the Nigerian Exchange Limited (NGX), has sustained a downward trend, losing N3.54 trillion in three consecutive days of trading. The market capitalization decreased from N160.422 trillion on August 10, 2026, to N156.881 trillion by August 13, 2026, marking a 2.21% decline.

The NGX All Share Index closed at 243,017.38 basis points, down by 5,512.37 basis points or 2.27% from 248,529.75 basis points. On August 13, 2026, the market dropped by N613 billion, primarily due to profit-taking in stocks like HBM Nigeria Plc and Unilever Nigeria Plc.

The sectoral performance was negative, with declines in the NGX Consumer Goods, Insurance, Banking, and Oil & Gas indices. On August 10, 2026, the market had briefly crossed the N160 trillion mark, driven by buying interest in Airtel Africa Plc.

Analysts at Cowry Assets Management Limited predict that the bearish trend may continue as investor sentiment remains cautious.