…Naira down 1 basis point to N1,350.57 per dollar.
THUR AUG 20 2026-theGBJournal| Nigeria’s equities market extended its losing streak to a third consecutive session on Wednesday, as renewed selling pressure in large-cap stocks outweighed gains in selected counters and pushed the benchmark NGX All-Share Index further into negative territory.
The NGX All-Share Index fell 0.36% to 240,750.47 points, taking the market’s year-to-date gain down to 54.71%, from 55.26% in the previous session. Market capitalisation declined by the same margin to N155.42 trillion.
The retreat was led by sharp losses in heavyweight and actively traded stocks. Aradel Holdings fell 9.99%, while Cornerstone Insurance declined 3.85% and GTCO slipped 0.08%.
The pressure from these stocks more than offset buying interest in UACN, which gained 6.56%, AVACAP, up 6.29%, and HMCALL, which jumped 10%.
The selloff came despite a sharp increase in market activity, suggesting that investors were actively repositioning rather than stepping away from the market.
Trading volume surged 177.65% to 1.19 billion shares, while transaction value rose 37.62% to N37.82 billion.
FCMB was the most actively traded stock by volume, with 60.85 million shares changing hands, while MTNN dominated value turnover at N8.12 billion.
Market breadth remained weak, with 34 stocks declining against 29 gainers, producing a breadth ratio of 0.85x.
HMCALL was the session’s strongest gainer, rising 10%, while INTENEGINS led the decliners with a 10% drop.
The three-day slide comes after a powerful run in Nigerian equities this year, leaving investors increasingly focused on whether the recent weakness represents a temporary profit-taking phase or the beginning of a broader consolidation after the market’s substantial gains.
NASD OTC Market Also Retreats
The bearish tone extended to Nigeria’s over-the-counter market. The NASD Security Index fell 0.36% to 4,333.09 points, while market capitalisation declined to N2.60 trillion.
The index’s year-to-date return moderated to 22.27%.
Activity nevertheless accelerated sharply. Trading volume jumped 557.21% to 747,429 units, while transaction value surged 934.04% to N96.76 million. Investors executed 42 trades, up 35.48% from the previous session.
SDGOLDEN was the sole advancer, gaining 2.70%, while SDCSCSPLC fell 2.14% to become the only decliner.
Naira
In the foreign-exchange market, the official exchange rate weakened marginally, depreciating by 1 basis point to N1,350.57 per dollar.
The combination of a weaker equity benchmark and a marginally softer naira points to a cautious tone across Nigerian financial markets, even as trading activity remains elevated.
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