By Boluwatife Oshadiya | August 5, 2026
Key Points
- Nigerian equities reversed Monday’s gains as investors lost ₦599 billion in market value
- The NGX All-Share Index fell 0.38% to 244,802.83 points, while market capitalisation declined to ₦158.02 trillion
- Selloffs in Multiverse Mining, LivingTrust Mortgage Bank, McNichols and Eterna outweighed gains in AVA Capital, NREIT and Livestock Feeds
Main Story
The Nigerian Exchange (NGX) closed lower on Tuesday as renewed profit-taking erased the previous session’s gains, wiping ₦599 billion off investors’ wealth and ending a one-day bullish run.
Market capitalisation declined by 0.38 per cent, falling from ₦158.614 trillion at the previous close to ₦158.015 trillion, while the NGX All-Share Index (ASI) shed 927.70 points, or 0.38 per cent, to settle at 244,802.83 points, down from 245,730.53 points. The decline trimmed the market’s year-to-date return to 57.32 per cent.
The bearish sentiment was driven by widespread selloffs across medium- and small-cap stocks, with 40 equities closing in the red against 13 gainers, reflecting weak market breadth.
Leading the losers’ chart were Multiverse Mining and LivingTrust Mortgage Bank, which each declined by 10 per cent to close at ₦22.95 and ₦3.42 per share, respectively. They were followed by McNichols Plc, which dropped 9.92 per cent to ₦5.45, Thomas Wyatt Nigeria Plc, down 9.87 per cent to ₦3.56, and Eterna Plc, which fell 9.09 per cent to ₦33.00 per share.
On the gainers’ table, AVA Capital led with a 9.94 per cent appreciation to ₦9.95 per share. Nigeria Real Estate Investment Trust (NREIT) advanced 9.71 per cent to ₦113.00, while Livestock Feeds Plc gained 9.49 per cent to close at ₦8.65. Neimeth International Pharmaceuticals Plc rose 8.43 per cent to ₦9.00, while AIICO Insurance Plc added 3.47 per cent to settle at ₦4.18 per share.
Despite the market’s decline, trading activity strengthened considerably. Total volume traded rose 69.25 per cent to 1.56 billion shares valued at ₦28.73 billion, exchanged in 54,160 deals.
Japaul Gold & Ventures Plc emerged as the most actively traded stock by volume with 904.42 million shares, accounting for nearly 58 per cent of total market turnover by volume. MTN Nigeria Communications Plc recorded the highest value of trades at ₦3.25 billion, representing 11.31 per cent of the day’s total transaction value.
What’s Being Said
Market data released by the Nigerian Exchange showed that investor sentiment weakened as decliners significantly outnumbered gainers, reversing the previous session’s positive performance.
“Market capitalisation declined by ₦599 billion to close at ₦158.015 trillion, while the All-Share Index fell by 927.70 points to 244,802.83,” according to official NGX trading statistics released after Tuesday’s trading session.
What’s Next
- Investors are expected to monitor upcoming corporate earnings releases for fresh trading cues.
- Analysts will watch whether bargain hunting returns after Tuesday’s broad-based selloff or if profit-taking persists in the near term.
- Attention will also remain on macroeconomic indicators and monetary policy expectations, which continue to influence investor sentiment across the equities market.
Bottom Line
The Bottom Line: Tuesday’s decline underscores the fragile nature of current market sentiment despite the NGX’s strong year-to-date performance. While trading activity remains robust, sustained gains will likely depend on stronger corporate earnings, improving macroeconomic conditions, and renewed investor confidence.
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