FRI JUNE 26 2026-theGBJournal| Nigeria’s equity market extended its recent downturn on Thursday, with sharp losses in energy and large-cap stocks dragging the benchmark index lower and deepening the market’s monthly retreat.
The All-Share Index fell 0.6 per cent to close at 233,580.83 points, pressured primarily by declines in Transcorp and Oando, as investors continued to lock in gains following a prolonged rally that has lifted the market more than 50 per cent since the start of the year.
The latest decline pushed the market’s month-to-date return further into negative territory at -6.7 per cent, although the year-to-date gain remained a robust 50.1 per cent, underscoring the scale of the advance recorded earlier in 2026.
Trading activity was subdued, reflecting cautious investor sentiment.
Total volume traded fell 19.3 per cent to 393.65 million shares, with transactions valued at N19.21 billion across 45,813 deals.
Access Holdings emerged as the most actively traded stock by volume, accounting for 39.05 million shares, while Lafarge Africa (WAPCO) led trading by value with transactions worth N2.25 billion.
Sectoral performance was broadly negative, highlighting the breadth of the sell-off.
The Oil and Gas Index recorded the steepest decline, falling 5.2 per cent amid heavy selling pressure in major energy counters.
The Insurance Index dropped 2.6 per cent, while the Banking and Consumer Goods indices slipped 0.3 per cent and 0.1 per cent respectively. The Industrial Goods Index was unchanged.
Market breadth remained firmly negative, with 33 decliners outweighing 14 gainers, resulting in a breadth ratio of 0.4 times.
DEAP Capital Management and Aradel Holdings were among the session’s worst performers, both shedding 10 per cent, while Red Star Express and Legend Internet delivered the strongest gains, advancing 9.6 per cent and 9.1 per cent respectively.
In the foreign-exchange market, the naira strengthened modestly, with the official exchange rate appreciating 0.4 per cent to N1,383 per US dollar.
The currency’s gain provided a rare positive signal for investors navigating a period of heightened volatility across domestic financial markets.
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