The Nigerian Exchange (NGX) extended its decline on Wednesday as investors lost approximately N293 billion amid a sharp drop in trading value and volume.
The NGX All-Share Index declined by 0.18% to 251,861.24 on November 11, 2026 from 252,313.16 recorded in the previous trading session.
Similarly, equity market capitalisation fell to N163.531 trillion from N163.825 trillion, representing a decline of approximately N293.43 billion.
Wednesday’s decline marked the second consecutive negative session for the equities market after the benchmark index slipped 0.06% on Tuesday.
The losses also showed that the market has struggled to sustain Monday’s 1.44% rebound, when renewed buying pushed the All-Share Index to 252,456.74.
Unlike Tuesday, when trading volume increased despite the marginal decline in the index, overall market activity weakened considerably on Wednesday.
Investors exchanged 418.35 million shares valued at N22.83 billion in 30,908 deals, compared with 545.30 million shares worth N30.39 billion in 31,543 transactions on Tuesday.
This represented a 23.3% decline in trading volume and a 24.9% drop in transaction value, while the number of deals decreased by about 2%.
Honeywell Flour Mills emerged as the most actively traded stock by volume with 75.96 million shares valued at N2.59 billion changing hands.
GTCO followed with 38.23 million shares worth N4.57 billion, making the banking group the biggest contributor to turnover among the five most actively traded stocks.
Sovereign Trust Insurance recorded 28.55 million shares worth N70.39 million, Champion Breweries traded 24.50 million shares valued at N249.05 million, while Access Holdings recorded 23.08 million shares worth N629.72 million.
University Press led the gainers after rising 9.89% from N4.55 to N5 per share.
Caverton Offshore Support Group gained 8.96% to N3.65, Abbey Mortgage Bank advanced 8.66% to N6.90, while Champion Breweries extended its rally with an 8.56% increase to N10.15.
Ecobank Transnational Incorporated completed the five biggest gainers with a 6.93% increase to N74.85.
On the losing side, Okomu Oil Palm plunged 10% from N1,276.20 to N1,148.60, wiping N127.60 off its share price in a single session.
Enamelware declined 9.96% to N33, NASCON Allied Industries fell 8.99% to N167, FTN Cocoa Processors dropped 8.36% to N6.80, while Lotus Halal Equity ETF declined 6.88% to N121.98.
The combination of a second consecutive decline in the benchmark index and the sharp contraction in trading value and volume suggests buying momentum weakened further on Wednesday following the strong rebound recorded at the beginning of the week.