The Nigerian Exchange (NGX) reversed its positive start to August on Tuesday as renewed selling pressure dragged the All-Share Index lower and wiped approximately N599 billion from the value of listed equities.
The NGX All-Share Index declined by 0.38 percent to 244,802.83 on August 4, 2026 from 245,730.53 recorded in the previous trading session.
Equity market capitalisation consequently dropped to N158.016 trillion from N158.615 trillion on Monday, representing a decline of approximately N599 billion in investors’ wealth.
Tuesday’s decline erased the 0.18 percent gain recorded on Monday, when the market opened August on a positive note following the profit-taking that characterised the final week of July.
The latest performance suggests that selling pressure remains present despite intermittent buying interest across selected equities.
Trading activity increased sharply by volume as investors exchanged 1.562 billion shares worth N28.73 billion across 54,160 deals.
This compared with 923.01 million shares valued at N37.85 billion in 72,544 transactions on Monday.
Although trading volume increased by approximately 69 percent, transaction value fell by about 24 percent while the number of deals declined by more than 25 percent.
The unusually high volume was largely driven by Japaul Gold and Ventures Plc, which accounted for 904.42 million shares valued at N2.72 billion.
Japaul Gold alone represented approximately 58 percent of the entire volume traded on the Exchange during Tuesday’s session.
Sterling Financial Holdings followed with 53.98 million shares valued at N431.86 million, while FCMB Group recorded 49.54 million shares worth N545.86 million.
Chams Holding Company accounted for 44.86 million shares valued at N199.22 million, while Neimeth International Pharmaceuticals recorded 42.44 million shares worth N327.84 million.
Despite the broader market decline, AVA Capital Plc extended its strong performance following its listing on the Nigerian Exchange.
AVA Capital gained 9.94 percent on Tuesday, rising from N9.05 to N9.95 per share.
The company had appreciated 9.70 percent to N9.05 on Monday after closing its first trading session on July 31 at N8.25.
AVA Capital was listed by introduction on the Main Board of the NGX on July 31, with five billion ordinary shares admitted at N7.50 per share.
At Tuesday’s closing price of N9.95, the stock had appreciated approximately 32.7 percent from its listing price within three trading sessions.
Among the securities supplied in Tuesday’s gainers table, FGSUK2032S5 recorded the largest increase, advancing 21.36 percent from N103 to N125.
NREIT followed with a 9.71 percent gain to N113, while Livestock Feeds appreciated 9.49 percent to N8.65.
Neimeth International Pharmaceuticals increased 8.43 percent from N8.30 to N9.00 and also ranked among the most actively traded securities during the session.
On the other side of the market, FGSUK2031S4 declined 19.91 percent from N99.90 to N80.01.
LivingTrust Mortgage Bank and Multiverse Mining and Exploration both fell by the maximum 10 percent, closing at N3.42 and N22.95, respectively.
McNichols declined 9.92 percent to N5.45, while Thomas Wyatt Nigeria dropped another 9.87 percent to N3.56.
Thomas Wyatt’s decline extended a sharp reversal that started at the beginning of August.
The stock closed July at N4.38 after gaining 20.66 percent during the final week of the month, but declined 9.82 percent to N3.95 on Monday before losing another 9.87 percent on Tuesday.
The two consecutive declines have reduced the stock by approximately 18.7 percent from its July 31 closing price, highlighting the profit-taking affecting some of July’s strongest performers.
Exchange-traded products recorded gains in selected securities.
GREENWETF increased by N14 to N940, extending its rise from N926 on Monday, while VETBANK advanced N3.05 to N37.20.
VSPBONDETF gained N2.60 to N239.60 and VETGRIF30 edged higher by two kobo to N111, while MERGROWTH remained unchanged at N146.
Tuesday’s market decline reinforces the cautious sentiment that emerged during the final trading sessions of July.
The NGX All-Share Index had gained 6.92 percent in July despite declining 0.84 percent during the final week as investors took profits following substantial appreciation in several large-cap stocks.
Monday’s 0.18 percent increase initially suggested renewed buying could provide support at the beginning of August, but Tuesday’s 0.38 percent decline has more than erased that advance.
After closing July at 245,283.68, the ASI now stands at 244,802.83, leaving the market approximately 0.20 percent below its July closing level after the first two trading sessions of August.
The combination of a declining index, lower transaction value and concentrated trading volume indicates that investor activity remains selective rather than representing a broad return to the aggressive buying that drove much of July’s rally.
Attention is expected to remain on corporate earnings, dividend announcements and large-cap financial stocks as investors assess whether the early-August weakness develops into a deeper correction or creates another entry point following the market’s strong performance in the first seven months of 2026.