The Nigerian equities market extended its bearish run on Tuesday, August 18, 2026, as renewed profit-taking in large-cap stocks dragged the benchmark NGX All-Share Index (ASI) down 0.35%.
The ASI closed at 241,611.23 points, down from 242,454.65 points recorded in the previous session, while market capitalisation fell by approximately N544.5 billion to N155.97 trillion from N156.52 trillion.
The market’s year-to-date return also moderated to 55.26%, as investors continued to lock in gains following the market’s strong rally earlier in August.
What you should know
Tuesday’s decline marked the sixth consecutive losing session for the Nigerian equities market, extending the correction that followed the NGX’s strong rally earlier in the month.
The latest sell-off was driven mainly by renewed weakness in large-cap stocks, particularly First HoldCo and Fidelity Bank, although the market also recorded gains in several smaller counters.
Market breadth remained negative, with 37 stocks declining against 22 gainers, indicating that selling pressure remained widespread.
What the data is saying
N544.5 billion wiped off market capitalisation
Market capitalisation declined from N156.52 trillion to N155.97 trillion, representing a loss of approximately N544.5 billion in investor wealth.
The ASI fell 0.35% to 241,611.23 points, while the market’s YTD return moderated to 55.26%.
Large-cap stocks drive the decline
Renewed profit-taking in major stocks remained the primary drag on the market.
First HoldCo and Fidelity Bank were among the major large-cap counters weighing on the index as investors continued to take profits following the market’s earlier gains.
The continued weakness has extended the market’s correction into a sixth consecutive session.
Market breadth remains negative
A total of 22 stocks gained, while 37 stocks declined during the session.
The top gainers were HM Call (+9.97%) to N4.84, Veritaskap (+7.09%) to N1.36, Tantalizer (+5.26%) to N4.00, RT Briscoe (+4.31%) to N10.90 and Regal Insurance (+3.66%) to N0.85.
On the downside, Red Star Express fell 10.00% to N16.20, Trans-Nationwide Express declined 9.94% to N2.81, Meyer & Baker dropped 9.88% to N15.05, Chellarams fell 9.77% to N9.70, while FTG Insurance declined 9.70% to N2.14.
Trading activity weakens sharply
Trading volume fell 67.7% to 429.84 million shares, while market turnover stood at N27.48 billion across 35,683 deals.
The sharp decline in volume indicates significantly weaker trading activity as investors remained cautious amid the ongoing market correction.
HM Call leads gainers
HM Call emerged as the strongest-performing stock of the session, gaining 9.97% to N4.84.
Veritaskap followed with a 7.09% gain to N1.36, while Tantalizer advanced 5.26% to N4.00.
Despite these gains, the broader market remained under pressure as losses in major stocks outweighed recoveries across selected counters.
