NGX Extends Losing Streak as Profit-Taking Wipes Out Weekly Gains
By Aboki Forex —
The Nigerian equities market extended its losing streak to two sessions on Thursday, June 11, 2026, erasing earlier weekly gains. The decline was driven by profit-taking in banking, consumer goods, industrial, and oil and gas stocks.
The benchmark NGX All-Share Index (ASI) shed 0.05% to close at 244,738.74 points, down from 244,852.21 in the prior trading session. Investors lost N72.74 billion in market value, bringing the total market capitalisation to N156.970 trillion from N157.043 trillion. The year-to-date return now stands at 57.27%.
Sell-offs occurred broadly across large and mid-cap stocks, halting a four-day rally that had sustained gains. Bargain hunting ahead of the Democracy Day public holidays was overshadowed by profit-taking activities.
Despite the overall loss, market sentiment remained mixed. A total of 32 stocks advanced while 31 declined, indicating continued buying interest in certain names. Sectoral indices on the Nigerian Exchange (NGX) were mixed. The NGX Consumer Goods Index lost 0.23%, and the NGX Banking Index fell 0.17%. The NGX Insurance Index gained 0.73%, while the NGX Energy Index rose 0.10% and the NGX Industrial Goods Index edged up 0.09%. Gains in energy and industrial indices were not enough to counter the downward pressure on the broad market.
Top decliners included International Energy Insurance Plc, which dropped 10.00% to N7.11. May and Baker Nigeria Plc declined 8.51% to N43.00. Tripple Gee and Company Plc fell 8.47% to N4.00. Abbey Mortgage Bank Plc dipped 7.69% to N11.40. AXA Mansard Insurance Plc shed 6.67% to N12.60.
On the gainers’ side, Consolidated Hallmark Holdings Plc rose 10.00% to N8.25. Learn Africa Plc advanced 10.00% to N11.00. Nigerian Enamelware Plc gained 10.00% to N40.70. University Press Plc added 10.00% to N5.50. ABC Transport Plc rose 8.25% to N7.80.
Trading activity was significantly higher during the session. A total of 1.72 billion shares worth N52.81 billion were traded in 49,807 deals. FCMB Group Plc was the most active stock by volume with 584.87 million shares, representing 33.99% of total turnover. Access Holdings Plc, NGX Group Plc, and AIICO Insurance Plc were also active by volume. In terms of value, Access Holdings Plc posted the highest turnover at N13.95 billion, followed by NGX Group Plc and FCMB Group Plc.
Meanwhile, Nigerian billionaire and BUA Group Chairman Abdul Samad Rabiu is set to earn a staggering N189.74 billion dividend from his shareholding in BUA Cement Plc. The payout follows the company’s strong financial performance and shareholder approval of its 2025 results. BUA Cement declared a N10.00 dividend per share. Rabiu holds a dominant 56.03% stake in the company, amounting to 18.974 billion shares out of 33.864 billion outstanding shares, making him the largest beneficiary.