The Nigerian equities market extended its losing streak on Thursday, June 25, 2026, as price declines in Aradel Holdings, Oando, and 32 other counters pushed the NGX All-Share Index lower by 0.64%, erasing N958.5 billion from investor wealth and pulling the year-to-date return below the 51% threshold for the first time in recent weeks.
Trading data from the Nigerian Exchange showed the ASI shedding 1,493.71 points to close at 233,580.83 points from 235,074.54 points in the previous session, with market capitalisation declining to N149.89 trillion.
The session extended what has now become a protracted correction phase, with subdued trading activity and persistent bearish sentiment characterising proceedings as investors remained cautious amid continued portfolio rebalancing.
What the data is saying
Investor sentiment remained weak throughout Thursday’s session as losses in large and mid-cap stocks across the oil and gas, commodity, and insurance sectors overwhelmed gains in low price stocks the recorded gains.
Highlights of Thursday’s trading:
- All-Share Index: 233,580.83 points, down 0.64%
- Market Capitalisation: N149.89 trillion, down N958.5 billion
- Volume Traded: 393.65 million shares, down 19.35%
- Value Traded: N19.21 billion, down 8.19%
- Deals: 45,813 transactions, down 0.92%
- Year-to-Date Return: +50.10%
- Market Breadth: 14 gainers vs 34 losers
Top 5 Gainers:
- Red Star Express (REDSTAREX) — up 9.60% to N24.55
- Legend Internet (LEGENDINT) — up 9.09% to N6.00
- Neimeth International Pharmaceuticals (NEIMETH) — up 7.10% to N8.30
- Abbey Mortgage Bank (ABBEYBDS) — up 5.45% to N8.70
- Ellah Lakes (ELLAHLAKES) — up 4.65% to N9.00
Top 5 Losers:
- Deap Capital Management & Trust (DEAPCAP) — down 10.00% to N4.05
- Aradel Holdings (ARADEL) — down 10.00% to N1,575.00
- Trans-Nationwide Express (TRANSEXPR) — down 9.90% to N3.64
- Regency Alliance Insurance (REGALINS) — down 9.57% to N0.85
- C & I Leasing (CILEASING) — down 9.48% to N5.25
Top stocks by volume:
- Access Holdings (ACCESSCORP) — 39.05 million shares valued at N896.21 million
- Chams Holding Company (CHAMS) — 24.50 million shares valued at N96.49 million
- Fidelity Bank (FIDELITYBK) — 24.07 million shares valued at N436.93 million
- Sterling Financial Holdings (STERLINGNG) — 23.75 million shares valued at N182.20 million
- Zenith Bank (ZENITHBANK) — 18.94 million shares valued at N2.13 billion
More insights
Thursday’s session was defined by the sharp pullback in Aradel Holdings — one of the NGX’s highest-priced and best-performing stocks year-to-date — whose 10% maximum daily decline to N1,575.00 impacted sharply on Oil & Gas Index and the broader market.
- The NGX Oil & Gas Index bore the heaviest sectoral loss, shedding 5.22% — the steepest single-session decline among all tracked indices and a reflection of Aradel’s dominant weight within the energy sector. Oando and other oil-linked names added further pressure to the sector.
- The Oil & Gas Index’s year-to-date outperformance of +111.13% has made it a natural target for profit-taking as the correction deepens.
- The NGX Commodity Index declined 3.36%, while the NGX Insurance Index shed 2.59%, extending a period of weakness that has seen insurance stocks come under persistent selling pressure since the market’s correction began in late May.
- The NGX Banking Index eased 0.28% as losses in Wema Bank and modest declines in other tier-two names weighed on the sector, though the FUGAZ names showed relative resilience compared with earlier sessions in the correction cycle.
- NGX Group, Transcorp, and other large-cap names featured among the session’s broader losers, reinforcing that the selling pressure is not confined to any single sector.
Trading activity deteriorated across all metrics. Volume fell 19.35% to 393.65 million shares, value traded declined 8.19% to N19.21 billion, and deal count slipped 0.92% to 45,813 transactions — consistent with the pattern of diminishing participation seen across recent correction sessions as investors pull back from committing fresh capital.
Access Holdings led the volume chart with 39.05 million shares, while Zenith Bank dominated by value among named counters with N2.13 billion in transactions.
What you should know:
Thursday’s N958.5 billion loss extends what has now become a sustained correction phase for the Nigerian equities market. The ASI has now retreated to 233,580.83 points — more than 18,900 points below its all-time high of 252,508 points reached in May 2026.
- The year-to-date return of +50.10% marks a significant moderation from the +57% levels recorded at the market’s peak, though the NGX remains among the stronger-performing equity markets globally in 2026 by this measure.
- Market capitalisation has now declined to N149.89 trillion, falling below the N150 trillion threshold for the first time since the correction began — a level that analysts will monitor as a potential psychological support point for bargain hunters.
- Market breadth of 34 losers against just 14 gainers — confirms that selling pressure remains broad-based rather than concentrated in isolated names, making a sustained recovery difficult without a meaningful shift in overall market sentiment.
Aradel Holdings’ 10% decline to N1,575.00 is particularly notable given the stock’s extraordinary year-to-date run, which had seen it anchor the NGX Oil/Gas Index’s +111.13% return. Whether Thursday’s selloff represents peak profit-taking or the beginning of a more sustained re-rating of the counter will be closely watched in subsequent sessions.