Nigerian Stock Market Extends Losses to Fourth Day as Profit-Taking Continues

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The Nigerian stock market fell for the fourth straight session on Wednesday, June 17, 2026. Sustained profit-taking drove the decline across large and mid-cap stocks.

Sell-offs were heavy in banking, oil and gas stocks. Geregu Power Plc, Okomu Oil Palm Company Plc, and Red Star Express Plc were among the top losers.

The NGX All-Share Index dropped 0.49% to 240,802.72 points. It closed the previous day at 241,984.80 points.

Investors lost N758.16 billion in value. The market's year-to-date return now stands at 54.74%.

Trading sentiment was negative. 51 stocks fell while only 13 gained. This shows widespread selling pressure across the market.

Geregu Power Plc led the laggards with a 10.00% drop. Okomu Oil Palm Company Plc fell 9.97%. Red Star Express Plc declined 9.95%. Industrial and Medical Gases Nigeria Plc lost 9.31%. TIP dropped 7.35%.

Other notable losers included Ikeja Hotel Plc down 6.01%, May and Baker Nigeria Plc down 5.99%, and Transnational Corporation.

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