Nigerian stock market suffers record N13. 29tn loss in historic June selloff - Blueprint Newspapers Limited
Spread the wordThe Nigerian stock market recorded its worst monthly performance on record in June 2026, with investors losing an estimated N13. 29 trillion in market value as widespread selling pressure. . .
Spread the wordThe Nigerian stock market recorded its worst monthly performance on record in June 2026, with investors losing an estimated N13. 29 trillion in market value as widespread selling pressure brought an abrupt end to one of the strongest rallies in the history of the Nigerian Exchange (NGX). Market data showed that the benchmark All-Share Index (ASI) fell by 8. 28 per cent during the month—its sharpest monthly decline since the administration of President Bola Tinubu began—while the market’s year-to-date return dropped from more than 60 per cent at the end of May to 47. 43 per cent. The broad-based correction reduced the market capitalisation of listed equities from N160. 5 trillion at the end of May to N147. 2 trillion by the close of June, wiping out N13. 29 trillion in shareholder value within a single month. Despite the setback, the market remains significantly above its opening level for the year, having gained more than N40 trillion since January, reflecting the strength of the broader bullish trend driven by economic reforms and renewed investor confidence. The June downturn marked a dramatic reversal after an impressive five-month rally that added nearly N60 trillion to the value of listed companies. April ranked among the strongest months in recent market history, delivering a 20. 36 percent monthly return—the best performance since May 2009. Although the NGX still posted a modest 3. 24 percent gain in May, analysts observed weakening market breadth, signalling the possibility of a correction. Unlike previous market pullbacks that affected only a few sectors, June’s decline was broad-based, with all 20 NGX indices ending the month in negative territory, including the benchmark All-Share Index, NGX 30 Index and NGX Premium Index. Premium Board stocks—including United Bank for Africa, Access Holdings, First HoldCo, Zenith Bank, MTN Nigeria, Seplat Energy, Lafarge Africa and Dangote Cement—collectively shed approximately N8. 2 trillion in market capitalisation during the month. Similarly, Nigeria’s trillion-naira companies commonly referred to as SWOOTs (Stocks Worth Over One Trillion Naira), lost an estimated N11. 6 trillion in combined market value. The only major exception was Airtel Africa, whose strong share price appreciation added more than N4 trillion in market capitalisation. Analysts noted that without Airtel Africa’s gains, total market losses in June could have approached N16 trillion. For comparison, the entire Nigerian stock market was valued at about N13. 6 trillion during the March 2020 crash—roughly equivalent to the amount erased in June alone. The previous record monthly loss stood at N6. 5 trillion, recorded in November 2025, making June’s decline more than twice as severe in value terms. According to investment analysts, widespread profit-taking by investors who benefited from the prolonged rally was the primary catalyst behind the selloff. Dividend qualification adjustments across several blue-chip stocks also contributed to weaker share prices as investors exited positions after receiving dividend entitlements. Analysts further noted that rising yields in Nigeria’s fixed-income market encouraged institutional investors to rebalance portfolios away from equities into government securities offering attractive returns with comparatively lower risk. They also pointed to liquidity movements associated with the ongoing Dangote Group private placement, which may have temporarily reduced funds available for equity investments. Spread the word