The Nigerian equities market extended its losing streak on Thursday, August 13, 2026, as continued selling pressure in consumer goods and selected large-cap stocks pushed the NGX All-Share Index (ASI) down 0.39%, wiping approximately N613.09 billion from investors’ wealth.
The ASI fell to 243,017.38 points from 243,967.09 points on Wednesday, while market capitalisation declined to N156.88 trillion from N157.49 trillion.
Thursday’s decline marked the fourth consecutive session of losses since the market’s record close on Monday, August 10, when the ASI reached 248,529.75 points and market capitalisation crossed the N160 trillion mark.
Since Monday’s record close of N160.42 trillion, the market has now lost approximately N3.54 trillion in value.
What you should know
The latest decline reflects continued profit-taking following the NGX’s strong rally earlier in August.
The market’s year-to-date return moderated to 56.17%, while the week-to-date decline from Monday’s peak stood at 2.22%.
Selling pressure was particularly pronounced in consumer goods stocks, although banking, industrial and insurance counters also recorded losses.
Despite the bearish performance, trading activity increased sharply, suggesting that investors were actively repositioning their portfolios amid the ongoing correction.
What the data is saying
N613.09 billion wiped off market value
Market capitalisation fell by approximately N613.09 billion during Thursday’s session, from N157.49 trillion to N156.88 trillion.
This brings the total market value lost since Monday’s record close to approximately N3.54 trillion.
ASI falls another 0.39%
The benchmark index declined from 243,967.09 points to 243,017.38 points, representing a 0.39% drop.
The ASI has now fallen approximately 5,512 points from its Monday peak of 248,529.75 points.
Consumer goods lead the selloff
The NGX Consumer Goods Index recorded the sharpest sectoral decline, falling 1.22% to 4,056.39 points.
Unilever Nigeria was the biggest heavyweight drag, plunging 9.97% to N118.30 from N131.40.
Chellarams also declined 9.66% to N10.75, while Nigerian Breweries fell 1.13% to N69.70.
Banking stocks also came under pressure
The banking sector remained weak, with Access Holdings falling 3.28% to N26.50 and Zenith Bank declining 2.24% to N122.00.
GTCO eased 0.39% to N128.00, while Transcorp declined 2.63% to N37.00.
Some banks bucked the trend, however, with ETI gaining 3.64% to N74.00, Fidelity Bank rising 2.33% to N22.00, Wema Bank advancing 2.94% to N29.80 and UBA gaining 1.21% to N46.00.
40 stocks declined against 27 gainers
Market breadth remained negative, with 40 stocks declining compared with 27 gainers.
The top gainers were led by International Energy Insurance, which rose 10.00% to N4.84, followed by John Holt (+9.89%), Trans-Nationwide Express (+9.75%), Sunu Assurances (+8.48%) and NEM Insurance (+6.25%).
On the losing side, Unilever Nigeria (-9.97%), Chellarams (-9.66%), Nigerian Infrastructure Debt Fund (-9.55%), Daar Communications (-9.25%) and Cornerstone Insurance (-9.09%) recorded the biggest declines.
Trading activity surged
Trading activity increased substantially despite the falling market.
Total volume traded jumped 191.22% to 4.24 billion shares, while market turnover increased 141.92% to N50.65 billion across 41,454 deals.
The sharp increase in volume and value alongside a declining index suggests that investors were actively selling and repositioning portfolios as profit-taking intensified across major sectors.
Market correction continues
Thursday’s session reinforces the market’s ongoing correction following Monday’s record rally.
With four consecutive sessions of losses and N3.54 trillion erased from market capitalisation since Monday, investors are now closely watching whether the selling pressure will continue or whether renewed buying interest in fundamentally strong large-cap stocks can stabilise the market.
