By Boluwatife Oshadiya | September 9, 2026
Key Points
- Investors lose ₦1.88 trillion in market capitalisation as the NGX All-Share Index falls 1.17%
- MTN Nigeria, First HoldCo, AccessCorp and other large-cap stocks lead the sell-off
- Market activity strengthens as 753.17 million shares worth ₦27.82 billion change hands in 54,051 deals
Main Story
Nigerian equities fell sharply on Tuesday as losses in MTN Nigeria, First HoldCo and other major stocks pushed the NGX All-Share Index down 1.17%, wiping ₦1.88 trillion from market capitalisation.
According to Nigerian Exchange Group market data supplied for the session, the All-Share Index declined by 2,897.67 points to close at 244,802.11, while its year-to-date return moderated to 57.31%. Market capitalisation fell to ₦158.72 trillion from its previous level.
The sell-off was concentrated in the Banking sector and followed renewed profit-taking in medium- and large-cap stocks that had recorded significant appreciation. AccessCorp, MTN Nigeria, GTCO, First HoldCo and Oando were among the major decliners.
Market activity, however, strengthened during the session. Total deals increased by 3.30%, while traded volume and turnover rose by 84.67% and 2.09%, respectively. Investors executed 54,051 deals involving 753.17 million shares valued at ₦27.82 billion.
NEM Insurance dominated trading volume, accounting for 17.63% of total units traded, followed by MBENEFIT at 11.80%, SterlingNG at 5.47%, AccessCorp at 4.94% and Conhall Plc at 4.75%. NEM Insurance also led by value, representing 14.67% of total transaction value.
Market breadth was strongly negative, with four gainers against 61 decliners. Ellah Lakes led the gainers at 7.07%, followed by NGX Group at 1.38%, LearnAfrica at 1.16% and Wema Bank at 0.68%.
Avance Capital led the decliners after falling 10.00%, followed by FTG Insurance at 9.89%, Abbey Mortgage Bank at 9.74%, Consolidated Hallmark Insurance at 9.66%, First HoldCo at 9.30% and Royal Exchange at 9.09%.
Sector performance was mixed, with Consumer Goods rising 0.49%, while Oil/Gas and Commodity gained 5.76% and 4.04%, respectively. Banking fell 5.29%, Insurance declined 4.38%, while Industrial Goods lost 0.64%.
What’s Being Said
Stockbrokers attributed the market weakness to renewed profit-taking in recently appreciated medium- and large-cap stocks, with Banking stocks bearing the heaviest pressure.
No direct market-participant quotation was included in the supplied source material, so BizWatch Nigeria has not inserted an unverified quote.
What’s Next
- Investors will watch whether profit-taking persists in the next trading sessions
- Banking and other recently appreciated large-cap stocks are likely to remain central to market direction
- Trading activity will be monitored for signs of whether the sharp increase in volume represents continued repositioning or renewed accumulation
Bottom Line
The Bottom Line: Tuesday’s sell-off shows that strong year-to-date gains are creating room for aggressive profit-taking, particularly in large-cap and banking stocks. The sharp decline in market capitalisation, despite substantially higher trading activity, points to a market undergoing significant portfolio repositioning rather than a simple slowdown in investor participation.
