The Nigerian Exchange (NGX) closed deep in the red on Thursday, August 21, as heavy sell-offs in insurance and industrial stocks erased N2.72 trillion in market value, extending the market’s losing streak to three consecutive sessions.
The benchmark All-Share Index (ASI) fell by 0.87% to 140,332.44 points, down from 141,566.30 points in the previous session. Similarly, market capitalisation dropped to N88.78 trillion, compared to N89.56 trillion on Wednesday.
Trading activity also weakened, with 573.75 million shares worth N12.88 billion changing hands across 25,881 deals. This represented a 20.51% decline in volume and a 0.46% dip in value compared with the previous day’s session. Market breadth remained negative, as 45 losers outweighed 16 gainers.
Top Gainers
- SFS Real Estate Investment Trust (+9.99%)
- Jaiz Bank Plc (+9.75%)
- NSE Lotus Technologies Plc (+9.38%)
- Omatek Ventures Plc (+5.88%)
Top Losers
- University Press Plc (-10.00%)
- Thomas Wyatt Nigeria Plc (-10.00%)
- International Energy Insurance Plc (-10.00%)
- Veritas Kapital Assurance Plc (-10.00%)
- BUA Cement Plc (-9.96%)
In terms of volume, Fidelity Bank Plc led trading with 96.07 million shares valued at N1.99 billion. It was followed by Veritas Kapital Assurance Plc (36.60 million shares), Universal Insurance Plc (32.93 million shares), Access Holdings Plc (30.33 million shares worth N819.08 million), and Jaiz Bank Plc (21.16 million shares worth N92.14 million).
Sector Performance
- The Insurance Index fell 4.69%, dragged down by losses in Cornerstone Insurance Plc (-6.29%) and others.
- The Industrial Goods Index dropped 4.04%, pressured by a sharp decline in BUA Cement Plc (-9.96%).
- The Oil & Gas Index slipped 0.06% as Oando Plc shed 0.61%.
- The Consumer Goods Index edged lower by 0.04%, following weakness in Champion Breweries Plc (-9.32%).
- On the upside, the Banking Index rose 0.47%, lifted by gains in GTCO (+2.88%).
The market’s sharp drop comes amid broader volatility in Nigeria’s financial system. Earlier reports showed that foreign exchange inflows climbed significantly in July 2025, with non-bank corporates investing over $1.2 billion, up from $800 million in June, according to FBNQuest Merchant Bank data from FMDQ. While foreign portfolio investments remain the largest source of supply, analysts cautioned that Nigeria’s heavy reliance on short-term capital flows leaves the market exposed to external shocks.
