The Nigerian equities market has shed N5.9 trillion in market value in a punishing two-week sell-off, with market capitalisation tumbling from a month-high N160.42 trillion on Monday, August 10, 2026, to N154.53 trillion on Friday, August 21.
BUA Foods and MTN Nigeria accounted for 49.3% of the total loss, shedding N1.521 trillion and N1.386 trillion, respectively, while the remaining 14 companies accounted for 50.7% of the market’s total loss.
BUA Foods’ market value fell from N15.211 trillion to N13.690 trillion, a N1.521 trillion loss or 10% decline, as its share price dropped from N845.10 to N760.60.
MTN Nigeria’s market value declined from N17.741 trillion to N16.355 trillion, losing N1.386 trillion, representing a 7.81% drop, as its share price fell from N845.00 to N779.00. The sharp decline was further exacerbated after the stock price was adjusted for dividends from N805.00 to N779.00 on Friday, August 21.
Market correction which began on Tuesday, August 11, 2026, has breached the psychologically significant 240,000-point threshold, as the Index plunged 9,178.59 points, or =-3.69%, to 239,351.16 points on Friday, August 21, down from 248,529.75 points on August 10.
This is the Index lowest level since July 8, underscoring the intensity of uninterrupted profit-taking across major sectors over 10 consecutive trading sessions.
Highlights of market correction from August 10 to August 21, 2026:
- ASI Decline: From 248,529.75 points to 239,351.16 points
- Loss: 9,178.59 points, -3.69%
- Market Capitalisation Loss: From N160.42 trillion to N154.53 trillion
- Loss: Approximately N5.89 trillion, -3.67%
Tuesday, August 11, investors began taking profit; the market reversed sharply Monday’s record close. The ASI declined by -1,806.18 points or -0.73% to 246,723.57 points while Market Capitalisation shed N1.7…
Source link
Read Full Article by Kelechi Mgboji at nairametrics.com
Source link
