The Nigerian equities market relapsed into a bearish mode on Monday, June 15, 2026, as investors resumed profit-taking in oil and gas and banking heavyweights, erasing approximately N945 billion from investors’ wealth.
The NGX All-Share Index (ASI) declined by 0.60% to close at 243,271.57 points, while market capitalisation shed an equivalent percentage to settle at N156.03 trillion.
The decline was driven largely by losses in Aradel Holdings, First HoldCo, Transcorp and Oando, which outweighed gains recorded in selected insurance and hospitality stocks.
Trading data from the Nigerian Exchange (NGX) showed that the market remained under pressure despite improving transaction activity.
Consequently, the Month-to-Date and Year-to-Date returns weakened further to -2.8% and +56.3%, respectively, reflecting the impact of continued selling pressure across major sectors of the market.
Market sentiment remained firmly negative with decliners significantly outnumbering gainers.
International Energy Insurance (IEI), eTranzact International, Neimeth Pharmaceuticals, Oando and Abbey Mortgage Bank led the losers’ chart numbering 47 in all.
On the positive side, Royal Exchange, Ikeja Hotel, Consolidated Hallmark Holdings, University Press and AXA Mansard Insurance emerged as the session’s strongest performers among the 17 gainers.
Highlights of Monday’s trading:
- All-Share Index: 243,271.57 points, down 0.60%
- Market Capitalisation: N156.03 trillion, down 0.60%
- Volume Traded: 744.99 million shares, down 56.70%
- Value Traded: N36.44 billion, down 31.00%
- Deals: 80,977 transactions, up 62.58%
- Year-to-Date Return: +56.33%
- Market Breadth: 17 gainers versus 47 losers, reflecting a bearish market sentiment
Top 5 Gainers:
- Royal Exchange Plc (ROYALEX) — up 10.00% to N1.65
- Ikeja Hotel Plc (IKEJAHOTEL) — up 9.97% to N47.45
- Consolidated Hallmark Holdings Plc (CONHALLPLC) — up 9.58% to N9.04
- University Press Plc (UPL) — up 9.09% to N6.00
- AXA Mansard Insurance Plc (MANSARD) — up 8.73% to N13.70
Top 5 Losers:
- International Energy Insurance (INTENEGINS) — down 9.99% to N6.40
- eTranzact International Plc (ETRANZACT) — down 9.97% to N14.90
- Neimeth International Pharmaceuticals (NEIMETH) — down 9.94% to N7.70
- Oando Plc (OANDO) — down 9.81% to N47.80
- Abbey Mortgage Bank (ABBEYBDS) — down 9.65% to N10.30
More insights:
The day’s decline was primarily driven by heavy selling in large-cap stocks, particularly within the Oil & Gas and Banking sectors.
- Aradel Holdings fell 5.7%
- First HoldCo lost 7.3%
- Transcorp declined 5.0%
Oando’s decline, 9.8% to N47.80, was among the most notable movements of the session and contributed significantly to the Oil & Gas index’s 3.2% loss.
The oil & gas sector emerged as the worst-performing segment of the market as investors reacted to easing geopolitical tensions following the reopening of the Strait of Hormuz and suspension of hostilities, developments that reduced immediate concerns over global crude supply disruptions.
The Banking Index declined by 1.0%, reflecting renewed profit-taking in major banking counters after their strong performance earlier in the month. Insurance stocks also remained under pressure, dragging the Insurance Index lower by 0.7%.
Despite the broad market weakness, selected stocks attracted bargain hunters.
Royal Exchange gained the maximum daily limit of 10.0% while Ikeja Hotel rose 9.97% as investors repositioned into undervalued counters.
Consolidated Hallmark Holdings and AXA Mansard also posted strong gains, helping cushion losses within the insurance segment.
Market breadth remained significantly negative, with 47 decliners compared to just 17 gainers, indicating that selling pressure was widespread rather than concentrated in a few large-cap stocks.
Market turnover:
Trading activity was mixed during the session.
The total volume traded declined by 56.7% to 744.99 million shares, while the value of transactions fell 31.0% to N36.44 billion.
However, the number of deals increased sharply by 62.58% to 80,977 transactions, suggesting heightened participation by retail and institutional investors despite weaker turnover.
Sterling Financial Holdings emerged as the most traded stock by volume with 112.17 million shares, while Aradel Holdings led the value chart with transactions worth approximately N11.20 billion.
Sectoral performance was broadly negative, with Oil & Gas (-3.2%), Banking (-1.0%), Insurance (-0.7%) and Consumer Goods (-0.4%) closing lower, while the Industrial Goods index ended the session flat.
What you should know:
Monday’s decline marks another setback for the market’s recovery efforts following the sharp correction recorded earlier in June.
Although the NGX has maintained a strong year-to-date return of more than 56%, analysts expect cautious trading to persist in the near term as investors continue to take profits in outperforming stocks.
Market participants will also be monitoring developments in global oil markets, as well as domestic economic indicators, for clues on the next direction of equity prices.
For now, sentiment remains tilted to the downside, with profit-taking and sector-specific uncertainties likely to dominate trading in the short term.
