Nigerian Stocks Slip as Investors Book Gains Ahead of Holiday
- The Nigerian equities market extended its losing streak to two sessions, erasing earlier weekly gains
- The decline was driven by profit-taking in banking, consumer goods, industrial, and oil & gas stocks
- May & Baker, UAC of Nigeria, and Zenith Bank were among the top decliners, while FCMB dominated trading activity
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian stock market recorded a slight decline on Thursday, June 11, 2026. The four-day rally that sustained gains was halted as sell-off activities in some large and mid-cap stocks took precedence over bargain hunting ahead of the Democracy Day public holidays.
Specifically, the benchmark NGX All-Share Index (ASI) shed 0.05% to close at 244,738.74 points from 244,852.21 the prior trading session.
Source: Getty Images
Thus, investors lost N72.74 billion in market value, and the year-to-date (YTD) return was 57.27%. Sell-offs occurred broadly across large and mid-cap stocks, which could be attributed to profit-taking in some of these companies.
Despite the loss in market value, the mood in the market appears positive as 32 stocks advanced and 31 declined. There appears to be continued buying interest in certain stocks despite a largely bearish outlook.
Sector performance
Indices across the Nigerian Exchange (NGX) were mixed due to sell-off pressures in large-cap stocks.
- NGX Consumer Goods Index lost 0.23%.
- NGX Banking Index lost 0.17%.
- NGX Insurance Index advanced 0.73%.
- NGX Energy Index gained 0.10%.
- NGX Industrial Goods Index edged up 0.09%.
Despite gains in the energy and industrial indices, they were not significant enough to counter the downward pressure on the broad market.
At the close, the ASI shed 113.47 points to 244,738.74 points and the market cap dropped to N156.970 trillion from N157.043 trillion.
Top losers
- International Energy Insurance Plc lost 10.00 to N7.11.
- May & Baker Nigeria Plc declined 8.51 to N43.00.
- Tripple Gee and Company Plc down 8.47 to N4.00.
- Abbey Mortgage Bank Plc dipped 7.69 to N11.40.
- AXA Mansard Insurance Plc shed 6.67 to N12.60.
Top gainers
- Consolidated Hallmark Holdings Plc gained 10.00 to N8.25.
- Learn Africa Plc advanced 10.00 to N11.00.
- Nigerian Enamelware Plc was up 10.00 to N40.70.
- University Press Plc added 10.00 to N5.50.
- ABC Transport Plc rose 8.25 to N7.80.
Source: Getty Images
Market activity
Overall trading volume was significantly higher during the session, reaching 1.72 billion shares worth N52.81 billion traded in 49,807 deals.
FCMB Group Plc was the most active stock by volume with 584.87 million shares (33.99%) followed by Access Holdings Plc. the , NGX Group Plc and AIICO Insurance Plc, among others, were also active by volume.
In terms of value, Access Holdings Plc posted the highest turnover with N13.95 billion traded, followed by NGX Group Plc and FCMB Group Plc.
Nigeria’s second-richest man set to earn over N189.74bn
Earlier, Legit.ng reported that Nigerian billionaire and BUA Group Chairman is set to smile to the bank with a staggering N189.74 billion dividend from his shareholding in BUA Cement Plc, following strong financial performance and shareholder approval of the company’s 2025 results.
The billionaire earned the payout after BUA Cement declared a N10.00 dividend per share, making up a major share of total distributions approved at its 10th Annual General Meeting held in Abuja.
Rabiu holds a dominant 56.03% stake in BUA Cement, amounting to 18.974 billion shares out of the company’s 33.864 billion outstanding shares, positioning him as the largest beneficiary of the dividend.
Source: Legit.ng
