The Nigerian stock market ended August 2026 on a mixed note as the NGX All-Share Index (ASI) fell by 0.44%, despite a late-month recovery driven largely by banking and consumer goods stocks. The index closed at 244,199.39 points, down 1,084.29 points from 245,283.68 points recorded at the end of July, while market capitalisation declined by about N590 billion to N157.74 trillion.
Despite the overall decline, some stocks delivered strong returns during the month. Haldane McCall (HMCALL) emerged as the best-performing stock, rising 37.46% from N2.91 to N4.00. Access Holdings followed with a 22.05% gain, while UPDC rose 18.33%. Linkage Assurance, Transcorp Hotels, Nigeria Real Estate Investment Trust (NREIT), Eterna, Airtel Africa, Seplat Energy and First HoldCo also recorded notable gains.
At the other end of the market, several stocks suffered sharp declines. Zichis Agro Allied recorded the biggest loss, falling 40.73%, followed by Thomas Wyatt at 37.21% and International Energy Insurance at 32.05%. Other major decliners included Royal Exchange, Consolidated Hallmark Holdings, Chellarams, Unilever Nigeria, MCNichols and Veritas Kapital Assurance.
The banking sector provided the strongest support for the market in August, with the NGX Banking Index gaining 3.82%. Consumer Goods also advanced by 3.47%, while Oil & Gas edged up 0.25% and the Commodity Index gained 0.89%. In contrast, Industrial Goods fell 2.03%, while Insurance was the worst-performing major sector, declining 9.26%. The pattern reflected a rotation in investor interest rather than a broad market sell-off.
As September begins, investor attention is shifting toward valuations, corporate earnings and Nigeria’s planned return to FTSE Russell’s Frontier Market status on September 21, 2026. The market also ended August on a stronger note, with 43 equities advancing against 17 decliners on the final trading day. With the ASI still up 56.93% year-to-date, the August performance suggests investors are becoming more selective, favouring value-driven and fundamentally stronger stocks as they position for the next phase of the market.
source: nairametrics
