Equities Market Extends Decline As Investors Lose N257bn
- The stock market on Friday extended its losing streak to 2 days, with investors losing N257 billion
- The decline was driven by profit-taking in heavyweight stocks, including Dangote Sugar, Ecobank, and Nigerian Breweries
- FTG Insurance, Omatek, and John Holt were among the top decliners, while IntEnEgIns, Transnational Express, and Guinea Insurance
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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 for the second consecutive session on Friday, August 14, 2026, extending its losing streak as profit-taking in large-cap stocks weighed on the benchmark index.
The market’s bearish performance was largely driven by losses in heavyweight stocks, with Dangote Sugar Refinery, Ecobank Transnational Incorporated, Nigerian Breweries, Fidelity Bank, NEM Insurance, UBA, and Wema Bank among the major decliners.
Source: Getty Images
The market’s year-to-date return moderated to 55.91%, while market capitalisation declined by approximately N257.06 billion.
At the close of trading, the NGX All-Share Index (ASI) fell by 0.16% to 242,619.20 points from 243,017.38 points recorded on Thursday.
Market breadth remained negative, with 30 stocks recording losses compared with 21 gainers, reflecting continued selling pressure across several counters.
Top gainers
- IntEnEgIns rose from N4.84 to N5.32, gaining N0.48 (+9.92%).
- Transnational Express advanced from N2.59 to N2.84, adding N0.25 (+9.65%).
- Guinea Insurance increased from N0.75 to N0.80, gaining N0.05 (+6.67%).
- Regal Insurance rose from N0.80 to N0.85, up N0.05 (+6.25%).
- Japaul Gold gained from N2.80 to N2.95, rising N0.15 (+5.36%).
Top losers
- FTG Insurance fell from N2.90 to N2.63, losing N0.27 (-9.31%).
- Omatek declined from N1.66 to N1.51, shedding N0.15 (-9.04%).
- John Holt dropped from N10.00 to N9.10, losing N0.90 (-9.00%).
- RT Briscoe declined from N12.60 to N11.60, shedding N1.00 (-7.94%).
- Dangote Sugar Refinery fell from N70.00 to N64.55, losing N5.45 (-7.79%).
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Most traded stocks
- FTG Insurance led with 874.08 million shares worth N2.37 billion.
- Cornerstone Insurance traded 100.29 million shares valued at N506.53 million.
- Universal Insurance recorded 56.73 million shares worth N44.46 million.
- Sterling Financial Holdings Company traded 53.25 million shares valued at N402.87 million.
- MTN Nigeria recorded 44.59 million shares worth N31.37 billion.
Banking, insurance stocks power NGX to weekly gain
Earlier, Legit.ng reported that a total turnover of 4.607 billion shares valued at N130.636 billion in 263,439 deals was recorded on the floor of the Nigerian Exchange (NGX) during the week, compared with 4.164 billion shares worth N94.026 billion traded in 248,254 deals in the previous week.
The Financial Services industry, measured by volume, led trading activity, with 3.126 billion shares valued at N47.225 billion exchanged in 94,186 deals.
The sector accounted for 67.84% of total equity turnover volume and 36.15% of total value.
Source: Legit.ng
