By Boluwatife Oshadiya | June 25, 2026
Key Points
- Nigerian equities investors lost ₦3.64 trillion as the NGX All-Share Index fell 2.35%
- Dangote Cement, BUA Cement and Geregu Power recorded maximum daily losses of 10%
- Industrial Goods stocks led sectoral declines as profit-taking ended a two-day market rally
Main Story
The Nigerian stock market suffered a sharp downturn on Wednesday as heavy selling pressure in major cement stocks triggered a ₦3.64 trillion decline in investor wealth.
The Nigerian Exchange (NGX) All-Share Index fell by 5,668.65 points, or 2.35%, to close at 235,074.54. Market capitalisation also declined by ₦3.64 trillion to ₦150.85 trillion.
The losses ended a two-day rally and were largely driven by profit-taking activities in blue-chip and mid-cap stocks, particularly within the industrial goods sector.
Trading activity weakened significantly during the session. Total transaction volume declined by 13.60% while the value of trades dropped by 46.81%. Investors exchanged approximately 488.08 million shares valued at ₦20.93 billion across 46,239 deals.
FIRSTHOLDCO emerged as the most actively traded stock by volume, accounting for 11.84% of total market turnover. It was followed by CHAMS, ACCESSCORP, LINKASSURE and STERLINGNG.
On the gainers’ chart, SKYAVN led with a 9.92% increase, while INTENEGINS, TANTALIZER, OMATEK and AIICO also posted strong gains.
However, market sentiment remained overwhelmingly negative. Thirty-eight stocks declined compared with 16 gainers. BUA Cement, Dangote Cement and Geregu Power all closed at the maximum daily loss of 10%.
Sectoral performance was uniformly bearish. Industrial Goods suffered the steepest decline at 8.31%, followed by Insurance, Banking, Consumer Goods and Oil & Gas.
What’s Being Said
“The downturn was triggered by fresh profit-taking activities in mid-cap and blue-chip stocks,” market analysts said following the close of trading.
Market participants also pointed to the significant influence of cement stocks on the NGX’s overall performance due to their large market capitalisation and weighting within the benchmark index.
What’s Next
- Investors will monitor whether bargain hunters return to heavily sold cement stocks in the coming sessions
- Market participants are awaiting half-year corporate earnings releases for signs of improving fundamentals
- Analysts expect continued volatility as investors rebalance portfolios ahead of second-quarter reporting season
The Bottom Line: The sharp decline highlights the outsized influence of large-cap industrial stocks on the Nigerian market. Until investor confidence returns to heavyweight counters such as cement producers, the NGX may struggle to sustain upward momentum despite pockets of strength elsewhere.
