The Nigerian Exchange (NGX) ended lower on Wednesday as the All-Share Index (ASI) retreated by 0.45 percent to close at 138,157.16 points.
The decline reflects renewed selling pressure in heavyweight stocks, halting the upward momentum seen earlier in the week.
Market statistics showed 28,193 deals were executed, with a total turnover of 482.76 million units of shares valued at ₦19.67 billion.
Equity market capitalisation closed at ₦87.42 trillion while bond market capitalisation stood at ₦51.20 trillion. Exchange Traded Funds (ETF) capitalisation settled at ₦32.34 billion.
Top Gainers
Investor sentiment remained mixed, with some equities recording strong price appreciation despite the overall market downturn.
| Symbol | Last Close | Current | Change | % Change |
|---|---|---|---|---|
| NSLTECH | ₦0.88 | ₦0.96 | 0.08 | 9.09% |
| CONHALLPLC | ₦3.87 | ₦4.20 | 0.33 | 8.53% |
| JOHNHOLT | ₦6.30 | ₦6.80 | 0.50 | 7.94% |
| CADBURY | ₦55.00 | ₦58.00 | 3.00 | 5.45% |
| WEMABANK | ₦20.70 | ₦21.80 | 1.10 | 5.31% |
Small and mid-cap stocks such as NSLTECH and CONHALLPLC led the gainers’ table with strong investor demand driving their prices upward.
Cadbury and Wema Bank also posted notable gains on renewed interest in consumer goods and banking counters.
Top Losers
The session was dominated by declines in several equities, with five stocks shedding nearly 10 percent each.
| Symbol | Last Close | Current | Change | % Change |
|---|---|---|---|---|
| LEARNAFRCA | ₦7.80 | ₦7.02 | -0.78 | -10.00% |
| DAARCOMM | ₦1.00 | ₦0.90 | -0.10 | -10.00% |
| LEGENDINT | ₦5.30 | ₦4.77 | -0.53 | -10.00% |
| MANSARD | ₦15.98 | ₦14.39 | -1.59 | -9.95% |
| UNIVINSURE | ₦1.25 | ₦1.13 | -0.12 | -9.60% |
Insurance and communication stocks weighed heavily on the index. LEARNAFRCA, DAARCOMM, and LEGENDINT all posted maximum daily declines, while MANSARD and UNIVINSURE also suffered sharp sell-offs.
Most Traded Stocks
Banking stocks dominated market activity as investors positioned in Tier-1 lenders.
| Symbol | Volume | Value (₦) |
|---|---|---|
| ACCESSCORP | 43,033,160 | 1,101,305,864.35 |
| FIDELITYBK | 40,128,769 | 843,768,263.20 |
| GTCO | 34,846,233 | 3,157,985,714.50 |
| UBA | 33,429,744 | 1,535,452,511.90 |
| AIICO | 29,079,333 | 91,571,397.13 |
GTCO recorded the highest value of trades at ₦3.15 billion, supported by strong demand from institutional investors. ACCESSCORP led in terms of volume with over 43 million shares exchanged.
Bonds
The bonds segment also witnessed activity, with FGS202882 advancing significantly.
| Symbol | Last Close | Current | Change |
|---|---|---|---|
| FGS202882 | ₦85.00 | ₦100.00 | 14.99 |
| FG202033S6 | ₦110.99 | ₦111.96 | 0.96 |
| FG6B2029S5 | ₦100.00 | ₦100.00 | 0.00 |
| FGEUR2033S11 | ₦100.00 | ₦100.00 | 0.00 |
| FGS202139 | ₦85.00 | ₦85.00 | 0.00 |
Exchange Traded Funds (ETFs)
ETF activity was relatively muted, with only two funds recording price movements.
| Symbol | Last Close | Current | Change | Volume |
|---|---|---|---|---|
| STANBICETF30 | ₦415.00 | ₦419.99 | 4.99 | – |
| VETINDETF | ₦45.00 | ₦48.92 | 3.92 | – |
| VETGRIF30 | ₦51.00 | ₦51.00 | 0.00 | – |
| VETGOODS | ₦35.00 | ₦35.00 | 0.00 | – |
| MERVALUE | ₦204.90 | ₦204.90 | 0.00 | – |
Market Outlook
The decline in the benchmark index underscores cautious investor sentiment ahead of key macroeconomic announcements and corporate earnings releases.
Banking stocks remained the most actively traded, while the sell-offs in insurance and communication counters pulled the index lower.
Analysts expect mixed trading in the coming sessions as investors continue to rebalance portfolios in response to inflationary pressures, interest rate dynamics, and exchange rate volatility.