Nigerian stocks lose N3.8 trillion as selloff stretches to fifth session

The Nigerian equities market extended its sell-off on Friday, August 14, 2026, shedding N3.8 trillion in the week after closing lower for a fifth consecutive session as investors continued locking in profits following the market’s record close earlier in the week.

The benchmark NGX All-Share Index (ASI) declined 0.16% to close at 242,619.20 points, down from 243,017.38 points in the previous session.

Market capitalisation fell to N156.62 trillion from N156.88 trillion, a daily loss of approximately N257.06 billion.

However, since Monday’s highest close of 248,529.75 points and N160.42 trillion in market value, the index has shed approximately 2.38%, while investors have lost a cumulative N3.80 trillion in market value over the week, marking one of the sharpest weekly pullbacks the market has recorded since its June correction.

Market summary:

• All-Share Index (ASI): 242,619.20 points, down -0.16%.
• Market capitalization: N156.62 trillion, down -0.16%.
• Year-to-date: 55.91% (ASI); 57.61% (Market Cap)
• Weekly range: High of 248,529.75 points (Monday)
• Low of 242,619.20 points (Friday).
• Weekly decline from record high: approximately -2.38%.
• Volume Traded: 1.413 billion, down -66.64%
• Value Traded: N45.312 billion, down -10.53%
• Deals: 39,134.00, down -5.60%

Top 5 Gainers:

• International Energy Insurance: up 9.92% to N5.32, from N4.84.
• Trans-Nationwide Express: up 9.65% to N2.84, from N2.59.
• Guinea Insurance: up 6.67% to N0.80, from N0.75.
• Regal Insurance: up 6.25% to N0.85, from N0.80.
• Japaul Gold: up 5.36% to N2.95, from N2.80.

Top 5 Losers:

• Fortis Global Insurance: down 9.31% to N2.63, from N2.90.
• Omatek Ventures: down 9.04% to N1.51, from N1.66.
• John Holt: down 9.00% to N9.10, from N10.00.
• R.T. Briscoe: down 7.94% to N11.60, from N12.60.
• Dangote Sugar Refinery: down 7.79% to N64.55, from N70.00.

Driving the numbers:

Dangote Sugar Refinery emerged as the session’s biggest heavyweight drag, tumbling 7.79% to close at N64.55 from N70.00, shedding N5.45 per share.

• Ecobank Transnational Incorporated (ETI) declined 5.41% to N70.00, losing N4.00 per share and weighing further on banking sector sentiment.
• Nigerian Breweries fell 2.44% to N68.00.
• Fidelity Bank declined 2.27% to N21.50.
• United Bank for Africa (UBA) slipped 1.09% to N45.50.
• NEM Insurance eased 1.76% to N33.40, adding to the pressure on insurance names despite gains elsewhere in the sector.

Banking stocks delivered a mixed performance on the day.

• Access Holdings advanced 2.08% to N27.05, adding N0.55 per share, while Zenith Bank gained 0.49% to N122.60.
• GTCO rose 0.39% to N128.50, providing some offset to losses in ETI, Fidelity Bank and UBA.
• Oando added 1.15% to N35.10, supporting oil and gas sector activity, while Honeywell Flour Mills rebounded 3.36% to N16.90 after recent selling pressure.

Sector performance:

Sector performance was broadly negative for a fifth straight session, with only Industrial and Commodity holding steady.

• The Insurance Index recorded the sharpest decline among major sectors, falling 1.49% to 1,128.74 points from 1,145.85 points, even as several insurance names, including International Energy Insurance and Guinea Insurance, featured among the day’s top gainers.
• The Oil & Gas Index declined 0.63% to 5,201.81 points, from 5,234.92 points, continuing to face pressure despite being one of the strongest-performing sectors year-to-date.
• The Consumer Goods Index eased 0.46% to 4,037.91 points, from 4,056.39 points, weighed down by Dangote Sugar’s steep decline.
• The Banking Index slipped 0.23% to 2,548.02 points, from 2,553.87 points.

The Industrial Index closed flat at 10,379.10 points, just as the Commodity Index was essentially unchanged at 1,743.52 points.

What you should know:

Friday’s close confirms a broad market correction following the August 10 weekly high, with investors continuing to lock in profits across banking, insurance, consumer goods and oil & gas stocks for a fifth consecutive session.

• The scale of the pullback, nearly N3.80 trillion in lost market value in a single week, stands out as one of the sharpest short-term reversals since the market’s brutal June correction, even though the ASI remains firmly positive on a year-to-date basis.
• Insurance stocks’ sharp divergence, with the sector index posting the week’s worst performance even as individual names like International Energy Insurance and Guinea Insurance rallied, points to selective repositioning rather than uniform selling across the sector.

With the market now trading roughly 2.4% below its Monday peak, investor attention heading into the new week will likely centre on whether this profit-taking phase stabilises or extends further, particularly as banking names show early signs of selective buying interest even amid the broader correction.