Kayode Tokede
Foreign and domestic investors who invested in the stock market section of the Nigerian Exchange Limited (NGX) have seen N5.15 trillion of their investment wiped out in the first four days trading activities in June 2026.
This is coming on the backdrop of investors profit taking in blue chip listed stock such as MTN Nigeria Communications Plc, among others.
The market capitalization that opened for trading in June 2026 at N160.509 trillion, dropped by -3.21 per cent or N5.15 trillion to close yesterday at N155.359 trillion.
The market capitalization had opened June 2026, dropping by N1.8 trillion on surge investors’ profit-taking in BUA Cement Plc, Red Star Express Plc, First Holdco Plc, Oando Plc and Zenith Bank Plc.
It also suffered another heavy downward performance midweek, dropping by N2.28 trillion to make it the third consecutive decline, on investors profit-taking in MTN Nigeria Communications, 42 others.
Consequently, the NGX All-Share Index (NGX ASI) dipped by 3.3 per cent or 8,158.16 basis points to close at 242,227.31 basis points yesterday from 250,385.47 basis points when the stock market opened for trading in June 2026.
This brings the NGX ASI performance to 55.7 per cent in its investors Year-to-Date (YtD) performance.
The index had gained 3.35 per cent in May 2026, the lowest gain on a month-on-month performance and 60.90 per cent in its first five months growth.
Capital market analysts have urged investors to trade cautiously on the Nigerian Exchange Limited in June 2026, shifting focus to fundamentally strong stocks with attractive valuations.
Cordros Securities Limited in a report stated that “looking ahead, we expect market sentiment to remain broadly cautious in the near term, in the absence of a clear catalyst to drive momentum.”
Also, a group of analysts at Cowry Assets Management Limited said, “the Nigerian equities market is expected to remain cautiously positive, with performance likely driven by stock-specific factors rather than broad market momentum.
“Weak market breadth and subdued trading activity suggest continued fragile sentiment, while elevated fixed-income yields may sustain occasional portfolio shifts away from equities. Nonetheless, selective opportunities may emerge in fundamentally strong counters, particularly in the banking and insurance sectors, as investors remain focused on earnings resilience and dividend prospects.”