The Nigerian equities market extended its bearish trajectory for an 11th consecutive session on Monday, August 24, 2026, shedding N137.12 billion in market value. Continued profit-taking in selected financial heavyweights weighed on the market ahead of the Eid-Ul-Mawlid public holiday. The benchmark NGX All-Share Index (ASI) declined by 0.11% to close at 239,085.17 points, bringing total market capitalization down to N154.40 trillion and moderating the year-to-date (YTD) return to +53.64%.
Key Gainers, Losers, and Market Breadth
Market breadth remained negative as 31 decliners outnumbered 19 gainers across the floor. Notable stock movements included:
- 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), and SUNU Assurances (+3.33% to N3.10).
- Top Losers: International Energy Insurance (-9.82% to N3.49), Neimeth Pharmaceuticals (-9.38% to N7.25), Fidelity Bank (-6.00% to N18.80), Guinea Insurance (-5.19% to N0.73), and NPF Microfinance Bank (-4.82% to N3.95).
Heavyweight Movers and Sectoral Breakdown
Selloffs remained heavily concentrated in financial service equities. Fidelity Bank led large-cap declines, tumbling 6.00% to N18.80 per share. Bellwether First HoldCo dropped 1.58% to N127.90, while United Bank for Africa (UBA) slipped 1.44% to N44.45. Consequently, the NGX Banking Index recorded the day's sharpest sectoral drop (-0.63%), followed by the Insurance Index (-0.53%). The Consumer Goods, Oil & Gas, Industrial, and Commodity indices closed broadly flat.
Bucking the downward trend, Access Holdings advanced 1.85% to N27.50, NGX Group rebounded 1.61% to N126.00, and GTCO gained 0.55% to N127.70.
Trading Activity and Market Outlook
Trading activity strengthened despite cautious holiday positioning, with volume surging 60.49% to 668.72 million shares valued at N23.83 billion across 45,894 deals. FTG Insurance led volume with 206.72 million units traded, while First HoldCo topped value at N7.90 billion. Analysts expect cautious trading to persist, though strategic rebalancing may offer support post-holiday.
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