TUE AUG 18 2026-theGBJournal| Nigeria’s equities market opened the week on a softer footing as investors locked in gains across major banking stocks, outweighing selective buying in DANGSUGAR, FIDELITYBK and OANDO.
The NGX All-Share Index fell 0.07% to 242,454.65 points, while market capitalisation declined by the same margin to N156.52 trillion.
The market’s year-to-date return moderated to 55.81%, from 55.91% at the end of the previous week.
The weakness was led by profit-taking in heavyweight stocks including ZENITHBANK, which fell 0.33%, ACCESSCORP, down 0.92%, and UBA, which declined 0.77%.
Their losses more than offset gains in FIDELITYBK, up 2.33%, DANGSUGAR, which jumped 8.60%, and OANDO, up 0.28%.
Trading activity also weakened. Volume fell 5.89% to 1.33 billion shares, while turnover dropped sharply by 49.40% to N22.93 billion.
LASACO accounted for the largest volume, with 730.69 million shares changing hands, while MTNN topped the value table with N7.30 billion in transactions.
Market breadth remained firmly negative at 0.50x, with 36 decliners against 18 advancers.
RTBRISCOE was the session’s biggest loser, falling 9.91%, while TRANSEXPR led gainers with a 9.86% advance.
The session points to a more cautious tone after the market’s strong run this year.
With the NGX still delivering a 55.81% YTD gain, the latest decline appears more consistent with pockets of profit-taking than a broad-based reversal in investor sentiment.
However, continued selling pressure in large-cap banks could weigh on the index if investors increasingly rotate into stocks that have lagged the wider rally.
NASD Market Also Weakens
The NASD OTC market began the week on a weaker footing, with the NASD Security Index declining 0.89% to 4,426.02 points.
Market capitalisation fell by the same margin to N2.66 trillion, while the market’s year-to-date return moderated to 24.90%.
Liquidity was particularly thin.
Traded volume plunged 79.34% to 652,081 units, while transaction value collapsed 97.16% to N10.68 million, across just 21 trades.
SDIGIPLC, up 1.82%, was the sole gainer on the session. SDFCWAMCO led decliners, falling 6.16%.
FX
The official naira exchange rate strengthened 0.6% to N1,350.22 per dollar, adding to the relatively firmer tone in the currency market even as equities began the week under pressure.
The G&B Journal notes that the combination of a stronger naira and elevated equity valuations leaves the market increasingly sensitive to profit-taking, earnings expectations and the direction of institutional flows as the second half of the year progresses.
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