Nigeria Stock Market Records First Loss after 27 Consecutive Trading Days
- The Nigerian Exchange ended last week with its first loss after several weeks of consecutive gains
- On the last trading day, Abbey Mortgage Bank, Custodian Investment, Deep Capital and the Initiates led the losers table
- The losers' table includes Champion Breweries, AIICO Insurance, Sterling Holdings and Mutual Benefits
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian Exchange (NGX) Limited, for the first time in 27 consecutive days, recorded a decline on Friday, August 8.
This strong performance in the previous trading days was disrupted by profit-taking in MTN Nigeria, BUA Cement, Lafarge Africa, Abbey Mortgage Bank, and 25 other equities.
Source: Getty Images
Data from NGX showed that at the close of trading, the All-Share Index (ASI) fell by 0.56% or 815.80 points to 145,754.91 points from 146,570.71 points the previous day.
While market capitalisation contracted by N516 billion to N92.215 trillion from N92.731 trillion.
On Friday, investors traded 2.2 billion shares valued at N32.4 billion in 35,036 deals, compared with 2.0 billion shares worth N27.3 billion in 35,291 deals on Thursday.
This represents a 10.00% increase in volume and an 18.68% increase in value, alongside a 0.72% decline in the number of deals.
Despite the downturn, Customs Street recorded 42 price gainers against 29 price losers, indicating a positive market breadth index and strong investor sentiment.
Top losers on Friday included:
- Abbey Mortgage Bank: Fell 9.87% to N6.30
- Custodian Investment: Dropped 8.48% to N40.45
- Deap Capital: Declined 7.53% to N1.35
- The Initiates: Lost 7.34% to N12.00
- NPF Microfinance Bank: Shed 7.25% to N3.20
Top gainers included:
- Champion Breweries: Rose 10.00% to N14.41
- Union Dicon: Gained 10.00% to N9.90
- Universal Insurance: Added 10.00% to N1.10
- Guinness Nigeria: Increased 9.99% to N155.75
- AXA Mansard: Grew 9.99% to N14.64
Source: Facebook
Sector performance
The industrial goods sector dropped 1.54%, while the consumer goods index dipped 0.02%. The commodity index closed flat.
The insurance sector maintained its positive momentum, rising 16.11%. The energy index advanced 0.38%, and the banking index grew 0.19%.
Most actively traded equities:
- Linkage Assurance: 585.6 million units worth N1.2 billion
- Universal Insurance: 213.2 million units worth N234.5 million
- AIICO Insurance: 178.5 million units worth N618.1 million
- Mutual Benefits: 137.8 million units worth N402.5 million
- Sterling Holdings: 115.3 million units worth N927.4 million
Top performing banking stocks in 2025
Earlier, Legit.ng reported that the Nigerian stock market was having one of its best performances yet in recent history.
For 21 consecutive trading days, the NGWordsX posted positive performance. In July alone, over N12 trillion in additional market capitalisation was recorded.
The banking sector played a significant role in this strong performance, delivering robust returns in 2025.
Source: Legit.ng
