NGX crash deepens as investors lose N5.45trn in 8 days, with insurance stocks under pressure from reforms and profit-taking
Investors on the Nigerian Exchange are counting heavy losses.
The equities market has been on a free fall since Tuesday, August 11, 2026, with no sign of a rebound yet.
Data from the NGX shows the downturn has now stretched into its eighth consecutive trading session.
In total, the market has wiped out N5.45 trillion within that period, erasing most of the gains recorded earlier in the month.
The selloff started slowly last week. In just four sessions, investors lost about N3.8 trillion as bearish sentiment took over the market.
Many had hoped for a recovery this week. Instead, the losses deepened.
From Monday to Thursday this week alone, another N1.65 trillion was shaved off the market capitalisation.
How Thursday Trading Ended
Thursday was another tough day for traders. The NGX extended its losing streak as investors lost N440 billion in a single session.
The crash was driven by heavy profit-taking. Large-cap and mid-cap stocks that had rallied in July are now seeing massive selloffs.
Market capitalisation dropped by 0.30 percent to close at N154.977 trillion. It had opened the day at N155.417 trillion.
On the losers’ chart, International Energy Insurance topped the list. The stock fell by 9.85 percent to close at N4.30 per share.
On the other side, Haldane McCall led the gainers. It rose by 9.38 percent to close at N3.85, but its gain was not enough to lift the broader market.
Why Insurance Stocks Are Under Pressure
Findings by Obgist show that insurance stocks are among the worst hit. Market watchers link this to the new Nigerian Insurance Industry Reform Act 2025.
The implementation of the Act has created fresh uncertainty in the sector.
This comes after the National Insurance Commission, NAICOM, recently revoked the operating licences of Universal Insurance and Nigeria Reinsurance Company.
The move has rattled investors and triggered panic selling in insurance counters in recent weeks.
Analysts say many investors are now moving funds away from insurance stocks until there is more clarity on regulatory compliance.
For now, the mood on the NGX remains cautious. Traders are watching to see if the market will find support in the coming sessions or if the profit-taking will continue.
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