NGX Market Crash: Investors Lose N5.15 Trillion in Just Four Trading Days Amid Profit-Taking Spree

The Nigerian stock market has suffered a sharp setback as investors on the Nigerian Exchange Limited (NGX) lost a staggering N5.15 trillion within the first four trading days of June 2026. The decline was driven largely by aggressive profit-taking across major blue-chip stocks, including MTN Nigeria Communications Plc and several banking and industrial counters.

Market data shows that the total capitalisation, which opened June at N160.509 trillion, slid by 3.21 per cent to N155.359 trillion by the end of the trading period. Analysts attribute the drop to investors cashing out gains after previous months of strong performance, triggering a wave of sell-offs across key sectors.

The downturn was particularly severe midweek, when the market reportedly shed another N2.28 trillion in a single session. Heavy pressure came from stocks such as BUA Cement, First Holdco, Zenith Bank, Oando, Red Star Express, and MTN Nigeria, alongside over 40 other listed companies, deepening the bearish sentiment.

The NGX All-Share Index also mirrored the decline, falling by 3.3 per cent to close at 242,227.31 basis points, down from 250,385.47 points at the start of the month. Despite the pullback, the market still maintains a strong year-to-date gain of 55.7 per cent, following a 60.90 per cent growth in the first five months of 2026.

Looking ahead, market analysts are urging caution as sentiment remains fragile. Experts from Cordros Securities and Cowry Asset Management note that trading is likely to remain stock-specific, with investors focusing on fundamentally strong companies in the banking and insurance sectors, while elevated fixed-income yields continue to influence portfolio decisions away from equities.

source: This day