Stock market reverses bullish run as investors lose N1.6trn

The Nigerian stock market reversed its recent bullish run on Wednesday, May 20, 2026, as investors’ wealth fell by N1.619 trillion amid widespread selloffs in key mid- and large-cap stocks.

Selloffs in heavyweight and mid-cap stocks such as BUA Cement, CAP, E-Tranzact International, International Breweries, Deap Capital Management, and 20 other stocks dragged the market lower

Market capitalisation declined by 1.02 per cent, or N1.619 trillion, to close at N159.660 trillion from N161.279 trillion in the previous session.

The All-Share Index dropped by 2,573.05 points, also representing a 1.02 per cent loss, to settle at 249,062.37 compared with 251,635.42 recorded earlier.

The downturn weakened the Year-to-Date return to 60.05 per cent.

However, the market breadth closed positive with 41 gainers against 25 losers.

Zichis Agro Allied Industries and ABC Transport led the gainers’ chart by 9.99 per cent each, settling at N32.04 and N8.26 per share, respectively.

Ja Paul Gold added by 9.95 per cent, ending the session at N4.09, Livingtrust Mortgage Bank increased by 9.92 per cent, closing at N4.21, while FTN Cocoa Processors gained by 9.91 per cent, finishing at N10.76 per share.

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On the flip side, BUA Cement led the losers’ chart by 10 per cent, closing at N414, CAP trailed by 9.99 per cent, settling at N210.35 while E-Tranzact declined by 7.03 per cent, finishing at N17.20 per share.

International Breweries lost by 5.38 per cent, ending the session at N12.30, and Deap Capital Management fell by 4.92 per cent, closing at N5.80 per share.

Market activity declined during the session, as total volume traded fell by 14.74 per cent to 600.22 million shares, valued at N32.72 billion across 58,958 deals.

Access Corporation led in trading volume with 55.96 million shares exchanged, representing 9.32 per cent of total volume.

Zenith Bank topped the value chart with N4.81 billion worth of transactions, accounting for 14.69 per cent of total market value.