The Nigerian Exchange (NGX) closed lower for the second consecutive trading session on Friday, August 14, 2026, as sustained profit-taking in heavyweight stocks reduced investors' wealth by approximately N257.06 billion. The market's year-to-date return moderated to 55.91%, reflecting continued selling pressure across major counters.
Market Indices and Key Decliners
The NGX All-Share Index (ASI) fell by 0.16% to 242,619.20 points, down from 243,017.38 points recorded at Thursday's close. Market breadth remained negative, with 30 stocks recording losses against 21 gainers, indicating broad-based selling activity.
The decline was driven by profit-taking in large-cap stocks, including Dangote Sugar Refinery, Ecobank Transnational Incorporated, Nigerian Breweries, Fidelity Bank, NEM Insurance, UBA, and Wema Bank. Dangote Sugar Refinery was among the top losers, dropping from N70.00 to N64.55, a loss of N5.45 or 7.79%. Other notable decliners included FTG Insurance, which fell by 9.31% to N2.63, and Omatek, which shed 9.04% to close at N1.51.
Top Gainers and Losers
Despite the overall negative sentiment, some stocks recorded gains. IntEnEgIns led the gainers, rising from N4.84 to N5.32, an increase of 9.92%. Transnational Express advanced by 9.65% to N2.84, while Guinea Insurance gained 6.67% to close at N0.80. Regal Insurance and Japaul Gold also posted gains of 6.25% and 5.36%, respectively.
On the losing side, John Holt dropped by 9.00% to N9.10, and RT Briscoe declined by 7.94% to N11.60. The top five losers also included Omatek and FTG Insurance, as earlier mentioned, alongside Dangote Sugar Refinery.
Trading Activity and Sector Performance
Trading activity was robust, with FTG Insurance leading in volume with 874.08 million shares worth N2.37 billion. Cornerstone Insurance traded 100.29 million shares valued at N506.53 million, while Universal Insurance recorded 56.73 million shares worth N44.46 million. Sterling Financial Holdings Company traded 53.25 million shares valued at N402.87 million, and MTN Nigeria recorded 44.59 million shares worth N31.37 billion.
According to Legit.ng, the Financial Services industry dominated trading activity by volume, with 3.126 billion shares valued at N47.225 billion exchanged in 94,186 deals. This sector accounted for 67.84% of total equity turnover volume and 36.15% of the total value.
Weekly Market Overview
Earlier in the week, the NGX recorded a total turnover of 4.607 billion shares valued at N130.636 billion in 263,439 deals, compared with 4.164 billion shares worth N94.026 billion traded in 248,254 deals in the previous week. This marked an increase in trading activity despite the market's negative performance.
The continued decline in the equities market reflects persistent profit-taking by investors, particularly in large-cap stocks, as the market adjusts after a strong rally earlier in the year. The NGX All-Share Index remains 55.91% higher year-to-date, indicating that despite recent losses, the market has still delivered significant gains in 2026.
