On Thursday Alone, the Market Shed N613 Billion As Investors Took Profits in HBM Nigeria Plc, Unilever Nigeria Plc and 39 Other Stocks

Nigeria's stock market extended its losing streak for a third straight session, with investors losing N3.54 trillion in value over three days as profit-taking hit highly capitalised stocks. The market capitalisation of the Nigerian Exchange Limited (NGX) fell 2.21 per cent to N156.881 trillion by Thursday, August 13, 2026, down from N160.422 trillion at Monday's close, August 10, 2026. The NGX All-Share Index dropped 5,512.37 basis points or 2.27 per cent to close at 243,017.38 basis points over the same period. Month-to-Date returns settled at -0.9 per cent, while Year-to-Date returns stood at +56.2 per cent.

On Thursday alone, the market shed N613 billion as investors took profits in HBM Nigeria Plc, Unilever Nigeria Plc and 39 other stocks. HBM Nigeria dipped 4.6 per cent, while Unilever Nigeria fell 10 per cent, dragging the All-Share Index down by 949.71 basis points or 0.39 per cent. Sectoral performance was broadly negative: NGX Consumer Goods fell 1.2 per cent, NGX Insurance dropped 0.6 per cent, NGX Banking declined 0.3 per cent and NGX Oil Gas slipped 0.1 per cent, while the NGX Industrial Goods Index closed flat.

On Wednesday, investors lost N1.76 trillion as selling pressure triggered a broad decline, with the All-Share Index falling 2,756.48 basis points or 1.12 per cent to close at 243,967.09 basis points. Losses were driven by price depreciation in large and medium capitalised stocks including BUA Foods, Unilever Nigeria, HBM Nigeria, UACN and Zenith Bank. BUA Foods dropped 10 per cent or N84.50 per share to close at N760.60. On Tuesday, the market closed lower by N1.17 trillion as MTN Nigeria Communications (MTNN) Plc and 25 other stocks declined.

MTNN's share price depreciated by 4.73 per cent or N40 to close at N805.00, pushing the All-Share Index down by 1,806.18 basis points or 0.73 per cent to 246,723.57 basis points. The downturn followed Monday's rally when the market crossed the N160 trillion mark on renewed buying interest in Airtel Africa Plc, whose shares gained 8.59 per cent and lifted market capitalisation by N1.91 trillion or 1.2 per cent. Looking ahead, analysts at Cowry Assets Management Limited said the market is expected to sustain its bearish trend as investor sentiment tilts increasingly negative, though residual optimism could spark a recovery driven by portfolio readjustment and strategic repositioning.