Profit-taking erases N1.26trn from stock market despite heavy trading

Investors on the Nigerian Exchange Limited (NGX) lost N1.26 trillion in market value last week as profit-taking moderated the equities market’s recent rally, despite a sharp increase in trading activity.
Market capitalisation declined by 0.79 per cent to close at N158.326 trillion in the week ended July 31, 2026, from N159.586 trillion recorded the previous week, while the NGX All-Share Index (ASI) fell by 0.84 per cent to 245,283.68 points from 247,357.40 points.
The decline came as investors traded a total of 5.119 billion shares worth N404.762 billion in 285,223 deals, compared with 4.433 billion shares valued at N306.143 billion exchanged in 255,589 deals in the preceding week. T...