The Nigerian equities market extended its losing streak on Thursday, June 25, 2026, as price declines in Aradel Holdings, Oando, and 32 other stocks pushed the NGX All-Share Index down 0.64%, erasing N958.5 billion from investor wealth.
The ASI shed 1,493.71 points to close at 233,580.83 points, down from 235,074.54 points in the previous session. Market capitalisation declined to N149.89 trillion, falling below the N150 trillion mark for the first time since the correction phase began.
The session deepened what has become a sustained pullback, with bearish sentiment dominating as investors stayed cautious amid ongoing portfolio rebalancing. The year-to-date return moderated to +50.10%, slipping below the 51% threshold for the first time in recent weeks.
Trading activity weakened across all metrics. Volume declined 19.35% to 393.65 million shares, value traded fell 8.19% to N19.21 billion, and deal count edged down 0.92% to 45,813 transactions. Market breadth was negative, with 14 gainers against 34 losers.
**Sectoral performance**
The NGX Oil & Gas Index recorded the steepest sectoral decline, shedding 5.22% — the heaviest single-session drop among all tracked indices. Aradel Holdings, one of the exchange's highest-priced stocks and a top year-to-date performer, hit its maximum daily decline of 10% to close at N1,575.00. Oando and other energy-linked names added to the sector's pressure. The Oil & Gas Index still holds a year-to-date return of +111.13%, making it a natural target for profit-taking.
The NGX Commodity Index fell 3.36%, while the NGX Insurance Index declined 2.59%, extending weakness that has persisted since late May. The NGX Banking Index eased 0.28%, with losses in Wema Bank and other tier-two names offset by relative resilience among FUGAZ tier-one banks.
**Top gainers and losers**
The top five gainers were Red Star Express (up 9.60% to N24.55), Legend Internet (up 9.09% to N6.00), Neimeth International Pharmaceuticals (up 7.10% to N8.30), Abbey Mortgage Bank (up 5.45% to N8.70), and Ellah Lakes (up 4.65% to N9.00).
