NGX MARKET CAPITALISATION FALLS BY N1.9TRILLION AS INVESTORS TAKE PROFITS

The Nigerian equities market reversed its bullish trend last week, shedding about N1.9 trillion in market value as investors engaged in widespread profit-taking across major stocks.

The development came after a strong performance in the penultimate week, when investors gained N3.73 trillion on the Nigerian Exchange Limited (NGX).

The sell-off cut across major sectors, including banking, industrial goods, consumer goods, oil and gas, and insurance, with several highly liquid stocks recording significant losses.

Consequently, the NGX market capitalisation declined to N157.587 trillion, while the NGX All-Share Index fell by 1.6 per cent to close at 243,052.74 points, compared with 246,992.44 points recorded the previous week.

Total transactions across equities, bonds and exchange-traded products stood at approximately N130.73 billion during the week.

Market analysts attributed the broad-based decline to increased profit-taking as investors sought to reduce their exposure to risk and lock in gains following the market’s strong year-to-date performance.

The bearish sentiment was also linked to portfolio repositioning ahead of the Dangote Refinery Initial Public Offering (IPO), which is scheduled to open for public subscription on September 14, 2026.

Investors are therefore closely watching market activity as the Dangote Refinery IPO gets underway, with expectations that it could influence liquidity and investment decisions across the Nigerian capital market.