…Zenith Bank Plc lost 11.65% over the week, Fidelity Bank Plc declined 10.00%, United Bank for Africa Plc dropped 8.14%, while First HoldCo Plc slumped 20.29%
…Market capitalization mirrored the decline, shedding 3.59% to settle at N151.33 trillion
SAT JUNE 20 2026-theGBJournal| Nigerian equities extended their decline for a second consecutive week, with the benchmark All-Share Index posting its steepest weekly drop in months as investors locked in gains on major banking stocks, dragging market capitalization below N152 trillion.
The Nigerian Exchange All-Share Index (ASI) fell 3.59% week-on-week to close at 235,941.27 points, trimming the market’s year-to-date return to 51.62% from 57.27% a week earlier.
Market capitalization mirrored the decline, shedding 3.59% to settle at N151.33 trillion.
The broad selloff was driven largely by sustained profit-taking across heavyweight financial stocks.
Zenith Bank Plc lost 11.65% over the week, Fidelity Bank Plc declined 10.00%, United Bank for Africa Plc dropped 8.14%, while First HoldCo Plc slumped 20.29%, outweighing gains recorded in smaller counters including AXA Mansard Insurance Plc, which advanced 1.98%, Conoil Plc (+8.25%), Academy Press Plc (+8.72%) and Neimeth International Pharmaceuticals Plc (+4.68%).
Selling pressure persisted into Friday’s session, with the benchmark index declining 0.62% amid sharp losses in Nigerian Aviation Handling Company Plc and Royal Exchange Plc, both down 10.00%, alongside GTCO Plc, which shed 9.97%, and First HoldCo, which fell a further 9.84%.
Their declines more than offset gains in Deap Capital Management & Trust Plc (+9.89%), RT Briscoe Plc (+9.62%), International Energy Insurance Plc (+7.43%) and Jaiz Bank Plc (+7.14%).
Investor participation weakened markedly during the session. Trading volume declined 36.33% to 440.36 million shares, while the value of transactions plunged 78.88% to N24.68 billion, indicating reduced appetite following recent market gains.
Access Holdings Plc emerged as the most actively traded stock by volume, with 64.97 million shares changing hands, while MTN Nigeria Communications Plc led by transaction value with trades worth N4.63 billion.
Market breadth remained firmly negative at 0.59x, underscoring bearish sentiment as decliners significantly outnumbered gainers. NAHCO topped the losers’ table with a 10.00% decline, while Deap Capital led gainers with a 9.89% advance.
Meanwhile, the NASD Over-the-Counter market also closed lower.
The NASD Security Index (NSI) fell 2.48% to 4,252.73 points, while market capitalization declined 2.18% to N2.55 trillion. Despite the latest pullback, the OTC market maintained a year-to-date return of 20.01%.
Trading activity on the NASD platform was mixed.
Total volume traded increased 20.34%, although the value of transactions dropped 12.92%.
SD Golden Guinea Plc emerged as the best-performing stock with a 4.90% gain, while Central Securities Clearing System Plc recorded the steepest decline among actively traded counters.
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