The Nigerian Exchange (NGX) All-Share Index’s year-to-date return sank below the psychological threshold of 50% for the first time in 2026, closing at 49.12% — a level that marks a dramatic retreat from above 60% peaks recorded earlier in the month of May.
- +NGX YTD return slips below 50% first time in 2026, erasing N982.96 billion
The market has now shed more than eight percentage points of its earlier YTD return after a sustained bear run in less than two weeks.
The market has now shed more than eight percentage points of its earlier YTD return after a sustained bear run in less than two weeks.
The NGX All-Share Index fell 0.66% to close at 232,049.02 points on Friday, down from 233,580.83 points recorded in Thursday’s session.
The decline erased N982.96 billion from investor wealth in a single day as Market capitalisation closed at N148.91 trillion. It was the third consecutive session of losses.
Aradel Holdings led the losers’ chart with a 10% maximum daily decline. Four FUGAZ banks — GTCO, First HoldCo, Access Holdings, and Zenith Bank — also fell, adding broad institutional weight to the session’s selloff.
Selling pressure was relentless throughout Friday’s session. All seven tracked sectoral indices closed in negative territory. Highlights of Friday’s trading:
Aradel Holdings hit the maximum 10% downside limit for the second consecutive session. It closed at N1,417.50 from N1,575.00 on Thursday.
Despite the sharp price decline, Aradel led the market by traded value. It accounted for N4.29 billion, equivalent to 23.29% of total session value.
Four of the five FUGAZ banks declined simultaneously.
Their combined weight on the NGX Banking Index eased 0.28% lower at 2,130.27 points.
When the FUGAZ names and Aradel coupled with a 2.86% fall in Dangote Sugar move in the same direction, the market has little structural support to hold its ground.
All the NGX main indices recorded varying amount of decline, confirming the session’s wide and indiscriminate selling pattern.
On the gainers’ side, Universal Insurance topped the chart with a 6.32% advance to N1.01.
These moves were isolated bright spots. They carried insufficient market weight to offset the day’s broader losses.
UPDC hit a fresh 52-week low during the session. It closed at N3.25. The stock’s continued descent reflects the persistent pressure on smaller-cap names during the correction cycle.
The 49.12% year-to-date return recorded on Friday, June 26, is the lowest point of 2026 for the NGX benchmark index return after the YTD accelerated above 55% threshold as of April 30, 2026.
The consecutive sessions of decline have deepened a correction that has now lasted several weeks. It began after the market’s historic rally in the first five months of 2026.
Aradel Holdings’ back-to-back maximum-limit declines are a defining feature of this correction phase. The stock had been the year’s single best-performing large-cap name before the pullback began.
