NGX Sheds N257bn as Selling Pressure Extends Market Downturn

Nigerian equities investors lost N257.06 billion on Friday as continued selling pressure extended the market’s bearish run, with the NGX All-Share Index falling 0.16 per cent to 242,619.20 points.

Market capitalisation declined to N156.62 trillion from N156.88 trillion in the previous session, marking another erosion of investors’ wealth after the market crossed N160 trillion earlier in the week.

The latest decline leaves the equities market facing a sustained correction as investors remain cautious and selective amid the recent selling pressure.

Trading activity also weakened significantly, indicating reduced investor participation.

Total volume fell 66.6 per cent to 1.41 billion units from 4.24 billion units, while transaction value declined 10.5 per cent to N45.31 billion from N50.65 billion.

The number of deals also dropped 5.6 per cent to 39,134 transactions from 41,454 in the previous session.

The combination of a falling benchmark and weaker turnover suggests that investors are becoming more cautious rather than engaging in aggressive buying at current market levels.

The decline was led by FTG Insurance, which fell 9.31 per cent to N2.63, followed by Omatek Ventures, down 9.04 per cent to N1.51, while John Holt declined 9 per cent to N9.10.

RT Briscoe also fell 7.94 per cent to N11.60, while Dangote Sugar Refinery declined 7.79 per cent to N64.55.

On the positive side, International Energy Insurance gained 9.92 per cent to N5.32, Trans-Nationwide Express rose 9.65 per cent to N2.84, Guinea Insurance advanced 6.67 per cent to N0.80, Regal Insurance gained 6.25 per cent to N0.85, while Japaul Gold rose 5.36 per cent to N2.95.

MTN Nigeria remained the most valuable stock traded during the session, accounting for N31.37 billion in transactions. First HoldCo followed with N2.68 billion, while FTG Insurance recorded N2.37 billion.

The market’s current weakness therefore contrasts sharply with the strong gains recorded earlier in the year, with investors now increasingly focused on protecting profits accumulated during the 2026 rally.

The latest session suggests that the correction is being accompanied by softer market participation, raising the question of whether investors are temporarily waiting for more attractive valuations or positioning for a deeper market adjustment.