The Nigerian Exchange (NGX) closed lower on Wednesday with the All-Share Index (ASI) declining by 0.15% to settle at 140,716.10 points, while market capitalisation dropped to ₦89.06 trillion, reflecting a loss of about ₦161.3 billion in investors’ wealth.
Market Snapshot
Gainers’ Chart
The session witnessed resilience in select counters:
-
Dangote Sugar rebounded strongly, topping gainers with a 10.00% rise to ₦59.40.
-
Lotus Halal 15 ETF advanced 9.99% to ₦75.87, while Mecure Industries Plc added 9.95% to ₦23.75.
-
NSLTECH and Cornerstone Insurance Plc both posted 8.00% gains, highlighting renewed interest in insurance and penny stocks.
Losers’ Chart
The downturn was largely shaped by selloffs in fixed income–linked securities and mid-tier equities:
-
FGSUK2031S4 led losers with a steep 24.18% drop to ₦73.50.
-
Deap Capital Plc (–9.42%), Legend Insurance Plc (–9.26%), WAPIC (–8.75%), and R.T. Briscoe Plc (–8.16%) all weighed heavily on market breadth.
Most Traded Stocks
Activity remained solid across banking counters:
-
Zenith Bank Plc dominated with 68.99m units worth ₦4.76bn.
-
Access Holdings Plc followed with 47.31m shares valued at ₦1.18bn, while First HoldCo Plc posted ₦1.42bn in trades.
-
Fidelity Bank Plc and GTCO rounded off the top trades, exchanging ₦868m and ₦2.08bn respectively.
Bonds and ETFs
-
Bonds: Prices remained flat across sovereign and corporate issues, with no significant changes.
-
ETFs: The segment showed mixed performance. Stanbic ETF 30 climbed 3.29% to ₦440.00, while MerGrowth ETF gained 2.56% to ₦400.00. Others, including NewGold and VetGoods, closed flat.
Market Outlook
The third consecutive decline underscores sustained investor caution, particularly amid volatility in consumer goods and insurance stocks. Gains in Dangote Sugar and ETFs provided a cushion but were insufficient to offset broader losses.
Going into Thursday’s session, market direction remains bearish, with profit-taking expected in mid-cap equities, though selective interest in blue chips may provide some relief.