By Boluwatife Oshadiya | March 12, 2026
Key Points
- Nigerian equities market loses ₦107 billion as selloffs hit major stocks
- Presco, UAC of Nigeria and LivingTrust Mortgage Bank lead decliners
- NGX Group and Premier Paint post strong gains despite market weakness
Main Story
Nigeria’s stock market closed lower on Wednesday after heavy selloffs in several mid- and large-cap stocks erased ₦107 billion from investor wealth, extending the market’s recent bearish run.
Data from the Nigerian Exchange (NGX) showed total market capitalisation fell 0.09 percent to ₦125.75 trillion, down from ₦125.86 trillion recorded in the previous session.
The All-Share Index (ASI) also declined by 167.57 points to 195,898.54, reflecting broad selling pressure across multiple sectors including consumer goods, financial services, and industrial stocks.
Presco led the losers’ chart after its share price dropped 10 percent to ₦2,083.90, while UAC of Nigeria declined 9.97 percent to ₦104.25. Morison Industries lost 9.94 percent to close at ₦10.87, while LivingTrust Mortgage Bank fell 9.91 percent to ₦4.82.
SCOA Nigeria also joined the list of major decliners, sliding 9.86 percent to ₦25.15 per share.
Despite the overall negative market sentiment, some stocks posted strong gains. NGX Group led the gainers’ chart with a 10 percent increase to ₦186.45, while Premier Paint rose 9.92 percent to ₦19.40. Omatek Ventures gained 8.95 percent, closing at ₦2.80 per share.
Market trading activity also weakened during the session. Total volume traded declined 10.12 percent to 671.27 million shares, valued at ₦26.13 billion across 58,792 deals.
Wema Bank recorded the highest trading activity, with 106.36 million shares worth ₦2.75 billion, accounting for about 15.8 percent of total market volume.
What’s Being Said
“The current market movement reflects profit-taking activities by investors after the strong rally seen earlier this year,” said Ayodeji Ebo, Managing Director of Optimus by Afrinvest.
“Investors are also closely monitoring macroeconomic indicators such as inflation, interest rates, and currency stability, which continue to influence portfolio allocation decisions,” Ebo added.
What’s Next
- Investors are watching corporate earnings releases and dividend announcements expected in the coming weeks
- Analysts say the next Monetary Policy Committee meeting of the Central Bank of Nigeria could influence market direction
- Fund managers are also monitoring foreign portfolio flows, which remain critical to sustaining market momentum
