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 over three consecutive trading days. The market capitalisation fell 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 on August 13, down by 5,512.37 basis points or 2.27% from 248,529.75 basis points on August 10, 2026. Notably, on August 13, the market dropped by N613 billion due to profit-taking in stocks like HBM Nigeria Plc and Unilever Nigeria Plc, which saw declines of 4.6% and 10%, respectively.

The sectoral performance was negative across various indices, including NGX Consumer Goods and NGX Insurance. Analysts at Cowry Assets Management Limited predict that the market will continue its bearish trend as investor sentiment remains low.