The Nigerian equities market extended its bearish trajectory into a third consecutive week on Monday, August 24, 2026, as continued profit-taking in selected large-cap stocks pushed the market lower ahead of the Eid-ul-Mawlid public holiday.
The NGX All-Share Index (ASI) declined 0.11% to close at 239,085.17 points, down from 239,351.16 points recorded in the previous session.
Market capitalisation also fell to N154.40 trillion, resulting in an estimated N137.12 billion decline in investors’ wealth.
What the data is saying
The market recorded another negative session, with declines outnumbering gains.
- ASI: 239,085.17 points, down 0.11%
- Market capitalisation: N154.40 trillion
- Market value lost: N137.12 billion
- YTD return: +53.64%
- Trading volume: 668.72 million shares, up 60.49%
- Market turnover: N23.83 billion
- Total deals: 45,894
- Market breadth: 19 gainers vs 31 decliners
Top gainers
- Red Star Express: +9.86% to N16.15
- University Press: +9.38% to N5.25
- UPDC: +5.97% to N3.55
- Haldane McCall: +3.90% to N4.00
- SUNU Assurances: +3.33% to N3.10
Top losers
- International Energy Insurance: -9.82% to N3.49
- Neimeth International Pharmaceuticals: -9.38% to N7.25
- Fidelity Bank: -6.00% to N18.80
- Guinea Insurance: -5.19% to N0.73
- NPF Microfinance Bank: -4.82% to N3.95
What they are saying
The latest decline highlights the continued profit-taking and cautious positioning among investors following the strong rally recorded by Nigerian equities earlier in the year.
Despite Monday’s decline, the NGX remains up 53.64% year-to-date, showing that the ongoing correction has yet to erase the market’s substantial 2026 gains.
The negative market breadth, with 31 stocks declining against 19 gainers, points to relatively broad selling pressure rather than weakness concentrated in a single stock.
Trading activity also picked up, with volume rising 60.49% to 668.72 million shares, suggesting that investors remained active in repositioning their portfolios despite the shortened trading week surrounding Tuesday’s public holiday.
