NGX Market Value Falls After Fourth Consecutive Trading Loss
- The Nigerian stock market extended its losing streak to a fourth trading session as sustained profit-taking continues
- Selling pressure across large and mid-cap stocks drove the decline, with sell-offs evident in banking, oil & gas
- Geregu Power Plc, Okomu Oil Palm Company Plc, and Red Star Express Plc were among the top decliners
Legit.ng journalist Dave Ibemere has over ten years of experience in business journalism with in-depth knowledge of the Nigerian economy, stocks and general market dynamics.
The Nigerian equities market on Wednesday, June 17, 2026, closed in the red, extending its bearish run for the fourth consecutive trading session.
Market data showed that the bearish run was primarily fueled by continued profit-taking on selected stocks as investors cashed out on recent gains from the rally.
Source: Getty Images
The NGX All-Share Index (ASI) depreciated by 0.49% to 240,802.72 from 241,984.80 points. This decline cost investors N758.16 billion and weakened the market's year-to-date return to 54.74%.
Market breadth
Trading sentiment was negative, with 51 stocks falling and only 13 appreciating, indicating widespread selling pressure across the market.
Top losers
- Geregu Power Plc led the laggards, dropping 10.00%.
- OkomuOil Palm Company Plc saw a decrease of 9.97%.
- Red Star Express Plc went down 9.95%.
- Industrial and Medical Gases Nigeria Plc declined 9.31%.
- TIP went down 7.35%.
Other significant losers include Ikeja Hotel Plc (-6.01%), May & Baker Nigeria Plc (-5.99%), Transnational Corporation Plc (-4.65%), Nigerian Exchange Group Plc (-4.44%), First HoldCo Plc (-3.97%), Stanbic IBTC Holdings Plc (-3.08%), Wema Bank Plc (-2.91%), Access Holdings Plc (-1.88%), Conoil Plc (-1.41%), Zenith Bank Plc (-0.83%), and United Bank for Africa Plc (-0.48%).
Geregu Power Plc closed below its 52-week low of N1,132.50 to settle at N1,019.00.
Source: Getty Images
Top gainers
Neimeth International Pharmaceuticals Plc was the top-performing stock.
Most active stocks
A total of 662.96 million shares worth N39.98 billion were traded in 51,143 deals.
- Access Holdings Plc was the most active stock by volume, trading 130.26 million shares, or 19.65% of total market volume.
- MTN Nigeria Communications Plc recorded the highest market value traded at N8.19 billion, or 20.48% of total market value.
- Jaiz Bank Plc was the third most active stock by volume at 17.33%, while Sterling Financial Holdings Company Plc ranked fourth at 4.69%.
- Aradel Holdings Plc and Geregu Power Plc were among the top stocks by value traded.
Rabiu's stocks yield profit
Nigerian billionaire and BUA Group Chairman Abdul Samad Rabiu is set to smile to the bank with a staggering N189.74 billion dividend from his shareholding in BUA Cement Plc.
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
Source: Legit.ng
