Stock Market Sustains Bearish Trend As Sell Pressure Wipes N514bn off Investors’ Wealth
- The stock market extended its losing streak to two sessions, pushing this week’s return into negative territory
- The latest fall was driven by profit-taking across banking, consumer goods and oil and gas stocks
- Omatek, Ellah Lakes, and Royal Exchange ranked among the top losers, while Champion Breweries wasamong the most actively traded stocks
Legit.ng journalist Dave Ibemere has experience in business journalism, with in-depth knowledge of the Nigerian economy, the stock market, and broader market trends.
The Nigerian equities market sustained its bearish momentum on Thursday, February 26, 2026, as investors extended profit-taking in heavyweight stocks, leading to a 0.41% decline in the benchmark index.
The All-Share Index (ASI) fell from 194,370.20 points to 193,567.81 points, while market capitalisation dropped by 0.41% to close at N124.24 trillion.
Source: Getty Images
Investors lost N515 billion, as the year-to-date (YTD) return moderated to 24.39%.
Market breadth closed negative, with 38 decliners compared to 30 gainers. FTN Cocoa Processors Plc topped the gainers’ chart, while Jaiz Bank Plc led the losers.
Top losers
- Jaiz Bank Plc fell from N14.03 to N12.63, losing N1.40 (–9.98%).
- Ikeja Hotel Plc dropped from N41.90 to N37.75, down N4.15 (–9.90%).
- John Holt Plc declined from N9.60 to N8.65, shedding N0.95 (–9.90%).
- Enamelware Plc decreased from N40.50 to N36.50, losing N4.00 (–9.88%).
- Lotus Halal Sukuk 2035 (LOTUSHAL15) fell from N178.65 to N161.22, down N17.43 (–9.76%).
Top gainers
- Federal Government of Nigeria Sukuk 2032 (FGSUK2032S7) surged from N100.00 to N134.00, gaining N34.00 (+34.00%).
- FTN Cocoa Processors Plc rose from N5.50 to N6.05, adding N0.55 (+10.00%).
- RT Briscoe Plc advanced from N10.35 to N11.38, up N1.03 (+9.95%).
- Deap Capital Management & Trust Plc increased from N6.35 to N6.98, gaining N0.63 (+9.92%).
- Japaul Gold & Ventures Plc climbed from N3.43 to N3.77, rising N0.34 (+9.91%).
Source: Getty Images
Most active stocks
- Jaiz Bank Plc led in volume with 78.94 million shares valued at N1.16 billion.
- Japaul Gold & Ventures Plc traded 73.25 million shares worth N274.78 million.
- Access Holdings Plc recorded 66.91 million shares valued at N1.74 billion.
- Chams Holding Company Plc exchanged 56.89 million shares worth N239.57 million.
- Zenith Bank Plc traded 45.49 million shares valued at N4.06 billion.
Naira appreciates
Earlier, Legit.ng reported that the naira rebounded in the parallel foreign exchange market on Wednesday, February 25, after the Central Bank of Nigeria (CBN) lowered its benchmark interest rate by 50 basis points.
Data from currency dealers showed the Nigerian currency strengthened by N10 against the dollar, with the greenback quoted at N1,390 in the black market, up from N1,400 on Tuesday, a 0.7% gain.
The official exchange rate, however, continued to weaken, closing at N1,355.37 per dollar on Tuesday, down N6.13 or 0.5% from Monday’s N1,349.24 at the Nigerian Foreign Exchange Market window.
Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
