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

By —

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.

Forex News

Nigerian equities market rebounds with N1.58 trillion gain
ABOKI FOREX
NRS confirms: Banks now charge 7.5% VAT on ATM card fees, not on savings
ABOKI FOREX
Naira gains as FX turnover hits $1.5bn in single day, CBN Cardoso credits reforms
ABOKI FOREX
Nigeria Launches Atlas Network to Lead Africa's Homegrown AI Push
ABOKI FOREX
Bosun Tijani Foundation Opens Gen AI Fellowship Cohort 2 with N50,000 Monthly Stipend for Nigerian Youths
ABOKI FOREX
FG Launches YouthCred Loan Scheme: N5,000 to N5 Million for NYSC Members, Salaried Workers, Entrepreneurs
ABOKI FOREX
Young Nigerian founders can now apply for iDICE N10 million startup scheme
ABOKI FOREX
Okada fares surge 130% in three years under Tinubu, NBS data shows
ABOKI FOREX
19 countries outside Africa Nigerians can visit without a visa in 2026
ABOKI FOREX
Single-day $1.5bn FX transaction lifts naira as market turnover surges
ABOKI FOREX