NGX Extends Losses as Panic Selling Erases N2.36trn Market Value

• The stock market on Monday extended its losing streak as panic sell-offs by investors pushed the Nigerian Exchange (NGX) lower
• The decline was driven by broad-based selling pressure across insurance, banking, consumer goods, industrial goods, and energy stocks
• Learn Africa, MTN Nigeria, and Unilever Nigeria were among the biggest decliners, while Ikeja Hotel and Access Holdings

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigerian stock market closed negatively on Monday as investors continued to take profits across key sectors of the NGX.

Market data showed that sentiment remained weak, with only 17 equities closing higher, while 45 stocks ended the session in the red, resulting in a negative market breadth.

At the close of trading, the NGX All-Share Index (ASI) fell by 3,682.70 points to 228,366.32 points from 232,049.02 points, while market capitalisation declined to N146.542 trillion from N148.905 trillion.

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Sector performance

• The NGX Insurance Index led the losers, declining by 1.33%.
• The NGX Banking Index followed with a drop of 1.22%.
• The NGX Consumer Goods Index declined by 0.63%.
• The NGX Industrial Goods Index shed 0.39%.
• The NGX Energy Index dipped slightly by 0.06%.

Top losers

• Learn Africa dropped 10.00% to close at N9.00.
• MTN Nigeria declined by 10.00% to N747.00.
• Unilever Nigeria fell 10.00% to N126.00.
• Austin Laz declined by 9.94% to settle at N3.17.
• Universal Insurance dropped 9.90% to trade at N28.12.

Top gainers

• Sovereign Trust Insurance led the gainers, rising 4.08% to close at N2.04.
• Cornerstone Insurance gained 3.45% to trade at N6.00.
• Neimeth appreciated by 3.03% to N8.50.
• Livestock Feeds advanced 1.92% to N7.95.
• C&I Leasing increased by 1.90% to N5.35.

Most active stocks

Trading activity increased significantly during the session, with investors exchanging 996.5 million shares valued at N43.7 billion in 61,813 deals.

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This represented a rise in trading volume, value, and deals compared with the previous session.

• Ikeja Hotel led market activity with 305.5 million shares worth N13.2 billion.
• Access Holdings followed with 289.9 million shares valued at N6.6 billion.
• Dangote Sugar traded 29.4 million shares worth N1.9 billion.
• Chams exchanged 22.0 million shares valued at N87.9 million.
• Zenith Bank recorded 21.2 million shares worth N2.4 billion.

5 steps to buy refinery shares as Dangote confirms IPO date

Earlier, Legit.ng reported that investors are positioning ahead of the Initial Public Offering (IPO) of the Dangote Group’s refinery, with President and Chief Executive, Aliko Dangote, confirming that the listing is expected to launch in September 2026.

Dangote disclosed this during an interaction with journalists after leading chairman Femi Otedola and senior executives of First HoldCo.

Investor interest in the refinery IPO has skyrocketed, approaching $2 billion

Source: Legit.ng