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Mid-Cap Selloff Wipes N170bn off Nigerian Stock Market Value

Posted by caleburbanus96@gmail.com May 15, 2026


  • Nigerian stocks fell 0.10% as the All-Share Index slipped to 252,243.11 points after trading
  • Insurance stocks posted gains, but losses in banking, consumer goods, industrial goods, and energy dragged the market lower
  • Market activity weakened, with 1.0 billion shares worth N41.6 billion traded across 74,822 deals

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.

Nigeria’s stock market declined on Thursday as profit-taking in mid-cap stocks triggered a N170 billion loss for investors at the close of trading on the NGX Group.

Data from the Nigerian Exchange Limited showed that the All-Share Index (ASI) fell from 252,508.19 points to 252,243.11 points, while market capitalisation dropped from N161.839 trillion to N161.669 trillion.

NGX closes lower as banking and consumer stocks drag market
Nigerian stocks fall N170bn as profit-taking hits mid-cap shares
Photo: AFP
Source: Getty Images

Sector performance was largely negative.

The banking index declined by 0.92%, consumer goods shed 0.13%, industrial goods slipped 0.03%, and the energy index dipped 0.02%. The insurance index was the only gainer, rising 0.46%.

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Despite the downturn, market breadth remained positive, with 37 gainers against 29 losers, indicating continued selective buying interest, Punch reports.

Top gains:

  • Learn Africa Plc: gained N0.90, rising from N9.00 to N9.90 per share (+10.00%)
  • Fidson Healthcare Plc: gained N11.32, moving from N113.28 to N124.60 per share (+9.97%)
  • Austin Laz & Company Plc: gained N0.37, rising from N3.72 to N4.09 per share (+9.95%)
  • Berger Paints Plc: gained N13.90, increasing from N140.10 to N154.00 per share (+9.92%)
  • Deap Capital Management & Trust Plc: gained N0.52, rising from N5.25 to N5.77 per share (+9.90%)

Top losers:

  • Zichis Plc: declined N3.62, falling from N36.31 to N32.69 per share (−9.99%)
  • FTN Cocoa Processors Plc: dropped N1.09, decreasing from N11.04 to N9.95 per share (−9.87%)
  • Meyer Plc: declined N2.34, moving from N23.89 to N21.55 per share (−9.83%)
  • RT Briscoe Plc: lost N1.60, falling from N17.00 to N15.40 per share (−9.41%)
  • Neimeth International Pharmaceuticals Plc: declined N0.80, dropping from N10.75 to N9.95 per share (−7.44%)
NGX sees mixed sentiment as gainers and losers balance
Learn Africa, Fidson top gainers in mixed trading session
Photo: Freepick
Source: Getty Images

Top active trades:

  • Chams Plc: 127.9 million shares traded, worth N501.2 million
  • VFD Group Plc: 10.7 million shares traded, worth N1.2 billion
  • First Holdco Plc: 75.6 million shares traded, worth N5.4 billion
  • Access Holdings Plc: 50.3 million shares traded, worth N1.3 billion
  • United Bank for Africa Plc: 44.9 million shares traded, worth N2.0 billion

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Naira crashes again against US dollar

Legit.ng earlier reported that the naira has opened the week on a bearish note and declined against the dollar at the Nigerian Foreign Exchange market (NAFEM).

The local currency, as per the official market data, fell by 0.86% to N1,373.16 or N11.77 against the dollar from N1,361.39 the prior trading day.

The naira, however, fell against major currencies in the official market during the trading day.

Source: Legit.ng





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