NGX bloodbath: Investors lose N2.35 trillion as MTN, Unilever hit daily floor

Nigeria's equities market suffered another heavy blow on Monday. The benchmark NGX All-Share Index plunged 1.57% to close at 228,401.92 points. MTN, Unilever, and Learn Africa all hit the maximum -10% daily downside limit simultaneously.

Investors lost approximately N2.35 trillion in a single session. The Market Capitalisation closed at N146.56 trillion, down from N148.91 trillion last Friday, June 26.

The year-to-date return slid further to 46.78%. That is its lowest level since June, 2026. The session extended the market's brutal correction phase.

The NGX benchmark has now shed more than 24,000 points from its May all-time high of 252,508 points. Cumulative losses from the peak now exceed N13 trillion.

What the data is saying

Selling dominated proceedings from the opening bell. Forty-seven stocks declined against just 13 gainers.

Highlights of Monday's trading

All-Share Index: 228,401.92 points, down 1.57%. Market Capitalisation: N146.56 trillion, down approximately N2.35 trillion. Volume Traded: 1.06 billion shares, up 171.61%. Value Traded: N44.60 billion, up 142.01%. Deals: 62,552 transactions, up 40.15%. Year-to-Date Return: 46.78%. Market Breadth: 13 gainers vs 47 losers.

Top 5 Gainers

UPDC: up 9.23% to N3.55. CNIF: up 5.45% to N116.00. Sovereign Trust Insurance: up 4.08% to N2.04. Cornerstone Insurance: up 3.45% to N6.00. Neimeth International Pharmaceuticals: up 3.03% to N8.50.

Top 5 Losers

Learn Africa: down 10% to N9.00. MTN Nigeria: down 10% to N747.00. Unilever Nigeria: down 10% to N126.00. Austin Laz & Company: down 9.94% to N3.17. Abbey Mortgage Bank: down 9.94% to N7.25.

Top stocks by volume

Ikeja Hotel: 305.54 million shares valued at N13.21 billion. Access Holdings: 290.03 million shares valued at N6.63 billion. Sterling Financial Holdings: 33.33 million shares valued at N254.57 million. Chams Holding Company: 30.67 million shares valued at N124.28 million. Dangote Sugar Refinery: 29.40 million shares valued at N1.89 billion.

More insights

The selling was broad and indiscriminate. Only a handful of counters escaped the brokers' long knives. MTN Nigeria's 10% maximum daily decline was the session's most consequential single-stock move. The stock shed N83.00 to close at N747.00. MTN is one of the NGX's most capitalised stocks.