Investors on the Nigerian Exchange Limited (NGX) recorded a cumulative loss of N5.45 trillion as the equities market extended its bearish run to an eighth consecutive session on Thursday, August 20, 2026. The sustained sell-off wiped out previous gains and marked the longest losing streak for the market so far in 2026.
The market capitalization declined by 0.30 per cent, or N440 billion, to close at N154.977 trillion from N155.417 trillion at the opening of trading. The benchmark All-Share Index also fell by 0.30% to 240,037.80 points, down from 240,750.47 points in the previous session. Over the eight sessions, the index dropped about 8,492 points or 3.42% from 248,529.75 points recorded on August 10.
The losses were driven by continued profit-taking in large- and mid-cap stocks, particularly in energy, banking and insurance shares. Heavyweights such as Aradel Holdings, UBA, Zenith Bank, Access Holdings and GTCO all closed lower. International Energy Insurance led the losers with a 9.85% decline to close at N4.30, while Haldane McCall led gainers with a 9.38% rise to N3.85.
Analysts attributed part of the pressure on insurance stocks to the implementation of the Nigerian Insurance Industry Reform Act 2025, following the revocation of licences of Universal Insurance and Nigeria Reinsurance by NAICOM in recent weeks.
Despite the 8-day slide, the market remains in positive territory for the year with a year-to-date gain of 54.3%. Market watchers described the correction as largely profit-taking after the NGX’s strong rally earlier in 2026.
