The Nigerian equities market continued its downward slide on Wednesday, with investors shedding an additional N217bn in market value amid intensified selling activity across major counters.
Trading data from the Nigerian Exchange (NGX) showed that bearish momentum drove a further 23 basis point decline in key performance indicators, dragging the year-to-date return to a new low in November.
The All-Share Index dipped by 340.50 points to close at 144,646.01, while market capitalisation fell by ₦216.57bn, ending the session at ₦92.00tn.
Stockbrokers attributed the downturn to persistent sell-offs in several medium- and large-cap stocks, including DANGSUGAR, CHAMS, ZENITHBANK, and ELLAHLAKES, which recorded notable price declines.
The cumulative value wiped off the market since the start of the week has risen to ₦1.5tn, underscoring heightened investor caution.
Despite the negative sentiment, overall market activity surged, with total trading volume climbing 134.12%, while the total value of transactions increased by 40.83%.
Atlass Portfolio Limited reported that 892.52 million shares, valued at ₦23.54bn, were traded across 20,225 deals.
ACCESSCORP dominated trading both in volume and value, accounting for 54.81% of total shares traded and 44.98% of total transaction value. Other actively traded stocks included TANTALIZER, JAPAULGOLD, ZENITHBANK, and CONHALLPLC.
On the gainers’ chart, NCR led with a 9.85% appreciation, followed by CAVERTON (+9.71%), UACN (+8.33%), MBENEFIT (+7.69%), LINKASSURE (+7.57%), and TANTALIZER (+7.36%), alongside ten other rising stocks.
However, 39 stocks closed lower. UNIVINSURE topped the losers’ list with a -10% depreciation, trailed by ABCTRANS (-9.95%), LIVINGTRUST (-9.92%), CHELLARAM (-9.85%), ROYALEX (-9.76%), and TRANSCORP (-8.44%).
Market breadth remained deeply negative, with only 16 gainers against 39 losers.
Sectoral performance also mirrored the broader downturn, as three of the five major indices closed in the red:
Insurance: -1.35%
Banking: -1.22%
Oil & Gas: -0.18%
Consumer goods rose slightly by 0.09%, while the industrial goods index closed flat.
