Nigeria’s equities market started June 2026 on a negative footing as the NGX All-Share Index fell 1.13% to close at 247,560.66 points, wiping out about N1.81 trillion in market value. The decline dragged market capitalisation down to N158.7 trillion from N160.50 trillion in the previous session, even as year-to-date returns eased to 59.09%.
The downturn coincided with the first trading day under Nigeria’s new T+1 settlement system, which reduces transaction settlement time from two days to one. The reform, jointly implemented by the Nigerian Exchange Group, CSCS, and the Securities and Exchange Commission, marks a major shift aimed at improving market efficiency and liquidity. Despite the structural upgrade, investor sentiment remained weak as profit-taking dominated activity, particularly in high-cap banking and industrial stocks. Market breadth closed negative, with 37 decliners outpacing 23 gainers, while 86 stocks ended unchanged, reflecting cautious trading behaviour at the start of the new settlement regime.
