Equities Lose N106bn as Bearish Run Extends

Equities Lose N106bn as Bearish Run Extends

The Nigerian equities market extended its bearish streak for the fifth consecutive session on Monday, August 17, 2026, with the NGX All-Share Index (ASI) slipping 0.07% to close at 242,454.65 points.

Market capitalisation fell by N106.24 billion to N156.52 trillion.

Year-to-date returns moderated to 55.81% as selling pressure in banking and insurance stocks weighed on the index, despite modest recoveries in select mid-cap names.

Trading volume declined 5.89% to 1.33 billion shares, while turnover plunged 49.40% to N22.93 billion, even as deal count rose 16.25% to 45,494.

Market breadth remained negative, with 36 decliners against 18 gainers. RT Briscoe (-9.91%) and Fortis Global Insurance (-9.89%) led the losers, while Dangote Sugar (+8.60%) and NAHCO (+7.29%) staged notable rebounds.

Heavyweights dragged the market lower, with NGX Group tumbling 4.11% to N133.10, Stanbic IBTC down 3.16% to N156.10, and PZ Cussons falling 3.75% to N77.00.

Banking counters also slipped, with Zenith Bank (-0.33%), Access Holdings (-0.92%), UBA (-0.77%), and Wema Bank (-2.36%) all posting declines.

On the upside, Dangote Sugar added N5.55 per share to close at N70.10, while NAHCO gained N10.20 to N150.20. Fidelity Bank rose 2.33% to N22.00, providing some support to the banking segment.

Sector performance was mixed. The NGX Insurance Index fell 1.48%, the Banking Index eased 0.46%, while the Consumer Goods Index rose 0.43% on Dangote Sugar’s rebound. Oil & Gas edged up marginally, while Industrial Goods and Commodities remained flat.

The five-session decline has erased 6,075 points and N3.90 trillion in market capitalisation since August 10. Analysts expect the bearish trend to persist as profit-taking continues, though portfolio repositioning could…