Nigeria’s equities market extended its losing streak on Tuesday, August 18, 2026, as investors continued to lock in profits from major stocks following the market’s strong rally earlier in the month. The NGX All-Share Index (ASI) fell 0.35% to close at 241,611.23 points, while market capitalisation dropped by approximately N544.5 billion, from N156.52 trillion to N155.97 trillion. The latest decline pushed the market into its sixth consecutive losing session, signalling that profit-taking remains firmly in control.
Heavy losses in key banking and blue-chip stocks were at the centre of Tuesday’s downturn. First HoldCo fell 5.71% to N132.00, losing N8 per share, while Fidelity Bank, the biggest large-cap decliner of the session, dropped 6.59%. NGX Group also declined 3.83%, while Unilever Nigeria shed 3.64%. Other major stocks, including Dangote Sugar, GTCO, UBA, Oando and Zenith Bank, also closed lower, adding further pressure to the benchmark index.
The broader market reflected the cautious mood, with 37 stocks recording losses compared with 22 gainers. Red Star Express led the decliners, plunging 10% to N16.20, followed closely by Trans-Nationwide Express, which fell 9.94% to N2.81. Meyer & Baker declined 9.88% to N15.05, Chellarams dropped 9.77% to N9.70, while FTG Insurance lost 9.70% to N2.14. On the positive side, HM Call topped the gainers’ chart with a 9.97% increase to N4.84, followed by Veritaskap at 7.09% and Tantalizer at 5.26%.
Sector performance also showed the weight of selling pressure, particularly across financial stocks. The NGX Banking Index declined 1.82%, reflecting the sharp falls in Fidelity Bank, First HoldCo and other banking names. The Consumer Goods Index slipped 0.03%, while Oil & Gas edged down 0.01%. Insurance managed a marginal 0.04% gain, while the Industrial Goods and Commodity indices remained flat. Trading activity also weakened significantly, with volume falling 67.69% to 429.84 million shares valued at N27.48 billion across 35,683 deals. Sterling Financial Holdings recorded the highest volume at 51.57 million shares, while MTN Nigeria dominated traded value with N9.76 billion.
Tuesday’s performance highlights the extent of the market’s correction since the ASI reached 248,529.75 points on August 10. The benchmark has now shed more than 6,900 points from that level, while market capitalisation has slipped below the N156 trillion mark. With the NGX already recording six straight sessions of losses, investors will be watching closely to see whether profit-taking continues to weigh on heavyweight stocks or whether bargain hunters begin returning to the market. For now, the direction of Nigeria’s equities market remains closely tied to investor appetite for banking, consumer and other large-cap stocks.
source: nairametrics
