• info@ocmlng.com
  • 0201-2914775

Profit-taking Sinks Nigeria’s Equity Market by 0.76% as Bears Take Control

Home > market news
Stock Market News

Profit-taking Sinks Nigeria’s Equity Market by 0.76% as Bears Take Control

18 May, 2026

The bears overpowered the Nigerian Exchange (NGX) Limited on Friday, sinking it further by 0.76 per cent when the closing gong was struck by 4 pm. The nation’s flagship equity market was under selling pressure during the session, as investors booked profits after the shares witnessed price appreciation in the past trading sessions. The energy sector was the most impacted, as it shed 4.43 per cent. The consumer goods index declined by 0.90 per cent, the banking counter decreased by 0.15 per cent, and the industrial goods sector lost 0.08 per cent, while the insurance counter gained 2.42 per cent, which was not enough to salvage the situation...................................READ MORE