NGX Sheds N443bn Amid Sell-Off In Meyer, Fortis Global Insurance

August 18, 2026
NGX Sheds N443bn Amid Sell-Off In Meyer, Fortis Global Insurance

The Nigerian Exchange (NGX) said the stock market capitalisation declined by N443.90 billion to N155.97 trillion on Tuesday, below the N156.41 trillion recorded on Monday.

This followed a 687.61 basis points loss in the all-share index (ASI), which fell to 241,611.23 ASI, from the previous day’s 242,298.84 ASI.

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Traders were involved in 35,683 deals, valued at N27.48 billion, after trading 429.83 million shares, against the N22.13 billion exchanged in 44,892 deals for 1.30 billion shares.

Top Five Gainers

  • HM Call’s share price increased by N0.29 kobo, from N2.91 kobo to N3.20 kobo per share.
  • Veritas Kapital share value grew by 7.09 percent, from N1.27 kobo to N1.36 kobo per share.
  • TAJSUKS2’s share appreciated by N5.01 to end trading at N99.01, having opened with N94.
  • Tantalizer’s share ended trading at N4 per share, from N3.80 kobo per share – indicating an increase of N0.20 kobo.
  • RT Briscoe share value was up by N0.45 kobo, after closing at N10.90 kobo, from N10.45 kobo per share.

Top Five Losers

  • Redstar Express’ share price depreciated by N1.80 kobo, dwindling from N18 to N16.20 kobo per share.
  • TransExpress recorded a N0.31 kobo decline in its share price to end trading at N2.81 kobo, after opening with N3.12 kobo.
  • Meyer reported a N1.65 kobo decline in its share price to end trading at N15.05 kobo, after opening with N16.70 kobo per share.
  • Chellaram lost N1.05 in its share price, to sell at N9.70 kobo, down from N10.75 kobo per share.
  • Fortis Global Insurance reported a decline of N0.23 kobo, from the previous share price of N2.37 kobo, to end trading at N2.14 kobo per share.

Top Five Trading Equities

  • Sterling Financial Holdings Company reported that 51.56 million shares valued at N390.59 million were traded on its floor.
  • FCMB recorded 49.97 million shares valued at N584.78 million.
  • Chams saw investors trade 32.40 million of its shares valued at N134.53 million.
  • Veritas Kapital recorded 17.96 million shares exchanged on its floor, worth N24.28 million.
  • First HoldCo reported that traders exchanged 17.03 million shares valued at N2.23 billion.

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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.

Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.

He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.

Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.

Prime Business Africa

Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.

Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.

He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.

Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.

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