Investors Lose N5.15 Trillion in First Four Trading Days of June as NGX Market Cap Drops

Foreign and domestic investors on the Nigerian Exchange Limited (NGX) have seen N5.15 trillion wiped off their investments in the first four trading days of June 2026, as profit-taking in blue-chip stocks triggered a sharp market downturn.

The market capitalisation, which opened June 2026 at N160.509 trillion, dropped by 3.21 per cent to close at N155.359 trillion on Thursday, according to NGX data. The decline followed consecutive sessions of heavy selling pressure, with investors taking profits in stocks including MTN Nigeria Communications, BUA Cement, and Zenith Bank.

The NGX All-Share Index dipped by 3.3 per cent or 8,158.16 basis points to close at 242,227.31 basis points, down from 250,385.47 at the start of the month. The index had gained 3.35 per cent in May 2026, the lowest monthly gain this year, and stands at 55.7 per cent year-to-date.

Capital market analysts have urged investors to trade cautiously, shifting focus to fundamentally strong stocks with attractive valuations. Cordros Securities Limited said in a report that market sentiment is expected to remain cautious in the near term in the absence of a clear catalyst to drive momentum.

Analysts at Cowry Assets Management Limited noted that the equities market is expected to remain cautiously positive, with performance likely driven by stock-specific factors rather than broad market momentum. They pointed to elevated fixed-income yields as a factor that may sustain occasional portfolio shifts away from equities, while selective opportunities may emerge in banking and insurance sectors.

Sources: ThisDay