NGX Extends Losing Streak as Investors Shed ₦2.18tn

June 18 () — The Nigerian Exchange (NGX) closed lower on Thursday as sustained sell pressure across key counters dragged market performance deeper into negative territory, wiping off approximately ₦2.18 trillion from investors’ wealth.

Market capitalisation declined from ₦154.445 trillion at the opening of trading to ₦152.266 trillion at the close, while the All-Share Index (ASI) fell by 3,397.80 points to settle at 237,404.92 from 240,802.72 recorded in the previous session.

Investor sentiment remained bearish as market breadth closed negative with 13 gainers against 40 losers, reflecting widespread profit-taking and renewed risk aversion among investors.

Top 5 Gainers

1. LEGENDINT gained 9.52 percent, (rising from N5.25 to N5.75).

2. NPFMCRFBK advanced by 9.18 percent, (appreciating from N4.90 to N5.35).

3. TRANSCORP increased by 7.32 per cent, moving from N41.00 to N44.00.

4. NEIMETH rose by 7.03 percent, (climbing from N9.25 to N9.90).

5. DAARCOMM added 5.29 percent, (advancing from N1.70 to N1.79).

Top 5 Decliners

1. AFRIPRUD shed 10.00 percent, (declining from N13.00 to N11.70).

2. CADBURY lost 10.00 percent, (dropping from N69.00 to N62.10).

3. TRIPPLEG fell by 10.00 percent, (sliding from N4.00 to N3.60).

4. JOHNHOLT depreciated by 9.93 percent, (retreating from N13.60 to N12.25).

5. MCNICHOLS declined by 9.33 percent, (falling from N7.50 to N6.80).

Meanwhile, heavyweight stocks including Lafarge Africa Plc, Okomu Oil Palm Plc, Custodian Investment Plc, Julius Berger Nigeria Plc, BUA Foods Plc and Nestlé Nigeria Plc closed flat during the session.

The sharp decline in both the benchmark index and market capitalisation underscores continued weakness in investor appetite, with market participants largely favouring profit-taking over fresh positioning.

Market sentiment is expected to remain cautious in the near term as investors digest recent losses and await stronger catalysts from corporate earnings, macroeconomic data and policy developments.

A sustained recovery will likely depend on renewed bargain hunting in fundamentally strong stocks.