By Peace Udugba
Profit-taking pushes equities lower despite strong trading activity and 55.91% year-to-date market gain
Trading activity on the Nigerian Exchange (NGX) rose sharply in the week ended August 14, 2026, with investors exchanging 12.153 billion shares worth ₦176.058 billion in 224,146 deals.
The performance represents a 126.8 percent increase in traded volume compared with the 5.359 billion shares valued at ₦139.053 billion exchanged in 261,869 deals in the previous week.
While turnover value increased by 26.6 percent, the number of deals declined by 14.4 percent during the week.
Market depth also improved to 27.76 percent from 21.67 percent, while average daily value traded rose to ₦35.21 billion from ₦27.81 billion.
The Financial Services Industry dominated equity market activity, accounting for 11.212 billion shares valued at ₦88.991 billion in 102,246 deals. The sector represented 92.25 percent of total equity turnover by volume and 50.55 percent by value.
The Information and Communication Technology (ICT) Industry followed with 246.127 million shares worth ₦51.605 billion traded in 27,169 deals, while the Services Industry ranked third with 198.195 million shares valued at ₦1.995 billion in 13,747 deals.
Trading activity was heavily concentrated in three equities—Fortis Global Insurance Plc, Cornerstone Insurance Plc and Consolidated Hallmark Holdings Plc. The three companies accounted for 9.488 billion shares valued at ₦36.219 billion in 1,781 deals, representing 78.07 percent of total equity turnover volume and 20.57 percent of turnover value.
The fixed-income market also recorded increased activity, with investors trading 232,979 units worth ₦226.258 million in 35 deals, compared with 117,372 units valued at ₦121.249 million in the preceding week.
Similarly, the Exchange Traded Products segment recorded 2.346 million units valued at ₦501.051 million across 5,291 deals.
Despite the surge in trading activity, the broader equities market closed lower as investors took profits following recent gains.
The NGX All-Share Index declined by 1.20 percent to 242,619.20 points, while market capitalisation fell by 1.19 percent to ₦156.624 trillion.
Market breadth improved marginally during the week. A total of 26 equities appreciated, unchanged from the previous week, while declining stocks fell to 59 from 63. Another 62 equities closed unchanged, compared with 58 in the previous week.
Consequently, the market breadth ratio improved to 0.69x from 0.62x, indicating a narrower gap between gainers and decliners despite the decline in the benchmark index.
Trans-Nationwide Express Plc led the gainers’ chart with a 32.09 percent increase, followed by International Energy Insurance Plc, which gained 31.68 percent, and Sovereign Trust Insurance Plc, which advanced 13.77 percent.
On the losers’ chart, AVA Capital Plc recorded the biggest decline at 34.55 percent, followed by Unilever Nigeria Plc, which fell 18.94 percent, and Zichis Agro Allied Industries Plc, which declined by 15.08 percent.
Meanwhile, Lasaco Assurance Plc expanded its share capital following the listing of 9.236 billion additional ordinary shares on the NGX Daily Official List on Wednesday, August 12, 2026.
The additional shares resulted from the company’s rights issue of five new ordinary shares for every six existing shares held as of February 20, 2026.
Following the listing, Lasaco Assurance’s issued and fully paid-up share capital increased from 11.084 billion shares to 20.320 billion ordinary shares of 50 kobo each.
Despite the weekly decline, the Nigerian equities market remains strongly positive for the year, with the NGX All-Share Index posting a year-to-date return of 55.91 percent as of August 14.
Several sectoral indices have recorded even stronger gains. The NGX Oil and Gas Index rose 94.81 percent year-to-date, while the NGX Premium Index gained 85.14 percent and the NGX Industrial Goods Index advanced 82.84 percent.
The performance highlights the continued strength of the Nigerian equities market despite the recent bout of profit-taking.
