Nigeria equities market loses N3.54tn amid naira stability

The Nigerian equities market has experienced a significant downturn, with investors losing approximately N3.54 trillion in market value over three consecutive trading sessions. This decline was driven by widespread profit-taking in large-cap stocks, particularly within the consumer goods, insurance, and banking sectors. The NGX All-Share Index saw notable drops, with the market capitalization falling to roughly N156.88 trillion by August 13, 2026.

Despite the broader market decline, certain stocks showed exceptional activity. Cornerstone Insurance Plc dominated trading volume and value, accounting for a significant portion of the exchange's total turnover. Conversely, heavyweights such as BUA Foods and Unilever Nigeria led the losers' charts.

In the foreign exchange market, the naira has shown signs of relative stability. The official rate at the Nigerian Foreign Exchange Market (NFEM) has fluctuated around the N1,360 to N1,367 per US dollar range. While the parallel market continues to trade at a premium, with rates reaching approximately N1,405 to N1,430 per dollar, analysts note that the currency has remained more stable compared to the high volatility seen in 2024 and early 2025. This stability is supported by improved liquidity and rising foreign exchange reserves, which reached $52.17 billion as of August 11, 2026.