Resuming after the Eid-Ul-Mawlid public holiday, the Nigerian equities market extended its bearish run on Wednesday, August 26, 2026, as sustained selling pressure across insurance, banking, consumer goods and oil & gas stocks wiped out approximately N259.76 billion, marking the 11th consecutive session of losses. The post Nigerian equities sell-off stretches to 11th straight session, wiping out N260 billion appeared first on Nairametrics .
Resuming after the Eid-Ul-Mawlid public holiday, the Nigerian equities market extended its bearish run on Wednesday, August 26, 2026, as sustained selling pressure across insurance, banking, consumer goods and oil & gas stocks wiped out approximately N259.76 billion, marking the 11th consecutive session of losses.
The benchmark NGX All-Share Index (ASI) declined 0.17% to close at 238,682.92 points, down from 239,085.17 points recorded in the previous session, extending the market’s slide further away from its psychological 240,000-point support level.
Consequently, market capitalisation fell to N154.14 trillion from N154.40 trillion, as investors continued locking in gains following the market’s strong rally earlier in the month, even as the market’s year-to-date return remained firmly positive at 53.38%.
The market’s decline was largely driven by renewed weakness across banking, healthcare and consumer goods names.
On the positive side, Neimeth International Pharmaceuticals led all gainers, advancing 9.66% to N7.95, while NEM Insurance added 6.67% to close at N32.00, providing some of the session’s only meaningful support amid otherwise broad-based selling.
Sectoral performance remained negative across the board, though the Industrial Goods Index held broadly flat.
The NGX Insurance Index recorded the steepest sector decline, falling 0.94% to close at 1,070.51 points from 1,080.69 points.
Market breadth remained firmly negative, with 41 decliners outpacing 17 advancers, underscoring the depth of the session’s selling pressure despite the modest scale of the index’s overall decline.
Trading activity strengthened notably despite the market’s weakness, with total volume traded rising 9.67% to 733.35 million shares, valued at N34.52 billion, a sharp 44.90% jump in value, while deal count advanced 7.23% to 49,210 transactions.
Zenith Bank transacted 30.869 million shares valued at N3.712 billion, and Veritas Kapital Assurance traded 28.627 million shares worth N34.120 million.
Wednesday’s session extends the Nigerian equities market’s losing streak to 11th consecutive trading days since August 11, with investors continuing to reassess valuations following the strong rally that pushed the ASI to the month’s high of 248,529.75 points on Monday, August 10.
Looking ahead, analysts at Cowry Asset Management Limited said the market is expected to sustain its bearish trend amid persistent profit-taking activity, though residual optimism could spark a recovery driven by portfolio readjustment and strategic repositioning.
