Investors on the Nigerian Exchange Limited (NGX) lost about ₦2.42 trillion in the just concluded week as the stock market extended its losing streak despite a rebound in major banking stocks.
The market capitalisation of listed equities fell by 1.60 per cent to ₦148.905 trillion for the week ended June 26, 2026, from ₦151.327 trillion the previous week, wiping about ₦2.42 trillion from investors’ portfolios.
Similarly, the NGX All-Share Index declined by 1.65 per cent to close at 232,049.02 points, reflecting continued weak investor sentiment.
Although the number of advancing stocks rose to 22 from 11 the previous week, declining stocks still dominated the market, with 57 equities closing lower.
The losses in large-cap stocks across the industrial goods, oil and gas, insurance and commodity sectors outweighed gains recorded in banking shares.
McNichols emerged as the week’s best-performing stock after gaining 26.47 per cent. International Energy Insurance followed with a 14.43 per cent increase, while Guaranty Trust Holding Company rose 10.69 per cent.
READ ALSO:
- Nigerian Stock Market Adds ₦4.52trn in May as Industrial, Insurance Stocks Drive Rally
- Naira Rebound Faces Fiscal Test, Group Says
- Investors Lose ₦5.64trn as Banking Stocks Tumble
- Energy-Driven Rally Lifts Nigerian Stocks by N26.8trn in One Month
- What Elon Musk’s SpaceX IPO Could Mean for the Nigerian Exchange
First Holdco and Airtel Africa both gained 10 per cent. Other top performers were Skyway Aviation Handling Company, Tripple Gee and Company, Chapel Hill Denham Nigeria Infrastructure Debt Fund, University Press and Zenith Bank.
On the losing side, Trans-Nationwide Express recorded the biggest decline, shedding 26.79 per cent. Deap Capital Management & Trust lost 23.31 per cent, while Abbey Mortgage Bank fell 20.30 per cent.
Aradel Holdings, Regency Assurance, Academy Press, Consolidated Hallmark Holdings, Daar Communications, UPDC and Royal Exchange also ranked among the week’s biggest losers.
The banking sector stood out as the market’s only bright spot, advancing 3.51 per cent as investors returned to major lenders after the previous week’s sharp sell-off.
However, the gains were insufficient to offset widespread declines elsewhere.
The industrial goods Index dropped 8.21 per cent, oil and gas fell 9.86 per cent, commodities declined 7.43 per cent, insurance lost 4.39 per cent, while the consumer goods index slipped 1.53 per cent.
Trading activity also weakened significantly during the week. The volume of shares traded fell by 24.42 per cent to 2.324 billion shares, while the value of transactions almost halved, dropping 47.18 per cent to ₦134.49 billion from ₦254.61 billion recorded a week earlier.
Despite the slowdown, the Financial Services industry remained the most active segment of the market, accounting for 65.53 per cent of total trading volume and 35.35 per cent of the total value traded, reinforcing the sector’s dominant influence on market direction.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X