Investors on the Nigerian Exchange (NGX) lost about N289 billion as sell-offs dragged down shares of companies like Transcorp, Oando, and MRS Oil. The stock market ended Wednesday’s trading session on a negative note, reflecting a continuous downward trend.
The year-to-date return moderated as the NGX’s key performance indicators fell by 0.44%. Over the past four trading sessions, the total decline in investor wealth has reached ₦729 billion, according to a market report by Atlass Portfolios Limited.
On Wednesday, the NGX All-Share Index (ASI) dropped by 460.56 basis points, closing at 104,915.13. Despite the losses, market activity increased, with the total volume of transactions rising by 290.47% and total trade value increasing by 50.52%. Atlass Portfolios Limited reported that 1,366.56 million shares worth ₦12.37 billion were exchanged in 12,012 deals.
SOVRENINS led the market in trading volume, accounting for 73.92% of all shares traded, followed by FIDELITYBK (3.13%), ACCESSCORP (2.24%), JAIZBANK (1.75%), and ZENITHBANK (1.58%).
In terms of value, TRANSPOWER was the most actively traded stock, representing 27.69% of total market value. Among gainers, JBERGER led with an 8.47% price increase, followed by OMATEK (+6.15%), UPDC (+2.69%), WEMABANK (+2.43%), UNILEVER (+2.12%), and NB (+1.56%).
However, thirty-seven stocks recorded price declines. LIVESTOCK was the biggest loser, dropping by 10%. Other declining stocks included MRS (-8.99%), TRANSCORP (-7.84%), UNIVINSURE (-5.17%), OANDO (-4.55%), and ACCESSCORP (-3.45%).
The market breadth remained negative, with 13 gainers and 37 losers. Sectoral performance was also weak, with four out of five major sectors experiencing declines. The Insurance sector fell by 1.84%, the Banking sector by 1.36%, the Oil & Gas sector by 1.32%, and the Consumer Goods sector by 0.11%. The Industrial sector remained unchanged.
Overall, the NGX market capitalization dropped by ₦288.80 billion (0.44%) to close at ₦65.79 trillion.
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