Nigeria’s equities market extended its bearish run for the fifth consecutive session on Monday, August 17, 2026, as the benchmark NGX All-Share Index (ASI) declined by 0.07 per cent to close at 242,454.65 points.
The index had closed the previous session at 242,619.20 points.
The decline translated into a loss of approximately N106.24 billion in market capitalisation, which fell from N156.62 trillion to N156.52 trillion.
Last week, the NGX All-Share Index and Market Capitalization depreciated by 1.20% and 1.19% to close at 242,619.20 and N156.624 trillion respectively. Similarly, all other indices finished lower while the NGX Sovereign Bond index closed flat.
The market’s year-to-date return also moderated to 55.81 per cent as continued selling pressure in banking and insurance stocks outweighed gains recorded in selected mid-cap counters.
Trading activity was mixed during the session. Volume declined by 5.89 per cent to 1.33 billion shares, while market turnover fell sharply by 49.40 per cent to N22.93 billion. However, the number of deals increased by 16.25 per cent to 45,494 transactions, suggesting that trading was characterised by more frequent but smaller-sized transactions.
Market breadth remained negative, with 36 stocks declining against 18 gainers, indicating that the weakness was relatively broad-based.
NGX Group leads heavyweight losses
NGX Group emerged as one of the major drags on the market, declining by 4.11 per cent to N133.10 from N138.80.
The stock shed N5.70 per share, adding significant pressure to the benchmark because of its substantial market weight.
Stanbic IBTC Holdings also declined by 3.16 per cent to N156.10, losing N5.10 per share, while PZ Cussons Nigeria fell 3.75 per cent to N77.00.
UAC Nigeria declined by 1.82 per cent to N166.90.
Banking stocks also recorded widespread losses. Zenith Bank eased 0.33 per cent to N122.20, Access Holdings declined 0.92 per cent to N26.80, UBA slipped 0.77 per cent to N45.15, while Wema Bank fell 2.36 per cent to N28.90.
NEM Insurance was among the major decliners, falling 8.83 per cent to N30.45, while declines in the stock, Zenith Bank and UBA added to the pressure on the overall market.
Dangote Sugar, NAHCO lead gainers
Despite the broader weakness, some stocks staged strong recoveries.
Dangote Sugar Refinery recorded the strongest gain among the major stocks, rising 8.60 per cent to N70.10 from N64.55, adding N5.55 per share after a difficult previous week.
NAHCO gained 7.29 per cent to N150.20, representing an increase of N10.20 per share.
Fidelity Bank also advanced by 2.33 per cent to N22.00, providing some support to the banking sector despite the broader weakness. Oando edged up 0.28 per cent to N35.20.
Among the top five gainers, Trans-Nationwide Express rose 9.86 per cent to N3.12, AVA Capital gained 9.72 per cent to N7.90, Thomas Wyatt Nigeria increased 9.09 per cent to N3.00, while Legend Internet advanced 8.75 per cent to N4.35.
On the losing side, RT Briscoe led the decliners, falling 9.91 per cent to N10.45 from N11.60.
Fortis Global Insurance declined 9.89 per cent to N2.37, McNichols Plc dropped 9.62 per cent to N4.70, UPL Plc fell 9.35 per cent to N4.85, while NEM Insurance declined 8.83 per cent to N30.45.
Insurance index leads sectoral decline
Sectoral performance was mixed, although the major sectoral indices largely reflected the prevailing weakness.
The NGX Insurance Index recorded the largest decline, falling 1.48 per cent to 1,112.05 points from 1,128.74 points.
The Banking Index also declined by 0.46 per cent to 2,536.29 points from 2,548.02 points, reflecting continued pressure on financial stocks.
The Consumer Goods Index bucked the broader trend, rising 0.43 per cent to 4,055.29 points from 4,037.91 points, supported by the strong performance of Dangote Sugar.
The Oil and Gas Index edged up marginally by 0.01 per cent to 5,202.26 points, while the Industrial Goods and Commodity indices were largely flat.