Okomu Oil Palm Plc plunged 10% on Wednesday to lead decliners on the Nigerian Exchange (NGX), wiping N127.60 off its share price in a single trading session.
The agricultural company’s share price dropped from N1,276.20 to N1,148.60 on November 11, 2026, representing the maximum 10% decline recorded during the session.
The sharp fall placed Okomu Oil at the top of the losers’ table as selling pressure weighed on selected stocks and dragged the broader equities market lower for a second consecutive trading session.
At N127.60 per share, Okomu Oil also recorded by far the largest nominal price decline among Wednesday’s five biggest losers.
Enamelware followed with a 9.96% decline from N36.65 to N33, while NASCON Allied Industries dropped 8.99% from N183.50 to N167.
FTN Cocoa Processors declined 8.36% to N6.80 from N7.42, while Lotus Halal Equity ETF completed the five biggest decliners after falling 6.88% from N130.99 to N121.98.
Okomu Oil’s decline came as the Nigerian equities market struggled to sustain the strong recovery recorded at the beginning of the week.
The NGX All-Share Index declined 0.18% to 251,861.24 on Wednesday after slipping 0.06% in the previous session.
Equity market capitalisation also fell by approximately N293.43 billion to N163.531 trillion from N163.825 trillion on Tuesday.
Trading activity weakened alongside the market decline with total transaction value falling 24.9% to N22.83 billion from N30.39 billion in the previous session.
Trading volume dropped 23.3% to 418.35 million shares from 545.30 million shares, while the number of deals declined slightly to 30,908.
Okomu Oil’s 10% decline therefore came against a backdrop of weaker market participation and renewed pressure on the benchmark index.
At Wednesday’s closing price of N1,148.60, the stock would need to gain about 11.1% to return to its previous closing level of N1,276.20.