Nigeria’s equities market extended its correction for a second consecutive week, with investors losing about ₦2.09 trillion in market value as sustained selling pressure weighed on banking, oil and gas, insurance and growth stocks.
The NGX All-Share Index fell by 3,268.04 points, or 1.35%, during the week ended August 21, closing at 239,351.16 points compared with 242,619.20 points the previous week.
Market capitalisation also declined by 1.33% to ₦154.53 trillion, while the market’s month-to-date performance moved into negative territory at -2.42%.
Despite the recent weakness, the NGX remains strongly positive for the year, with its year-to-date return standing at 53.81% as of the end of the week.
Friday’s session extended the market’s losing streak to nine consecutive trading days. The All-Share Index dropped another 0.29%, while market capitalisation fell by approximately ₦443.32 billion to ₦154.53 trillion.
Trading activity also weakened during the week. Total volume dropped 48.62% to 6.24 billion shares from 12.15 billion shares recorded in the previous week.
The continued decline reflects increased profit-taking and broad-based selling after the strong gains recorded earlier in the year.
While the recent correction has erased some of the market’s August gains, the NGX’s year-to-date performance remains firmly positive, suggesting that the latest sell-off is occurring against the backdrop of a much stronger 2026 rally.
