The Nigerian Exchange (NGX) extended its losing streak for the sixth consecutive session on Wednesday as investors continued to offload equities in favor of safer investment instruments.
The All-Share Index (ASI) fell 0.45% to 138,780.55 points, trimming the year-to-date return to 34.23%. Market capitalization shed ₦394.45 billion to close at ₦87.42 trillion, marking a loss of nearly ₦2.27 trillion over the past six sessions.
The selloff was most pronounced in mid- and large-cap stocks, including LEGENDINT, PZ, and UBA, as heightened risk aversion drove investors toward commercial papers and Federal Government savings bonds.
Trading activity presented a mixed picture. While the total volume of trades increased by 19.34% to 482.76 million units, the total value of transactions slumped by 50.52% to ₦19.67 billion across 28,193 deals.
ACCESSCORP led trading volumes with 8.92% of total shares exchanged, followed by FIDELITYBK (8.32%), GTCO (7.22%), UBA (6.93%), and AIICO (6.03%). In value terms, ARADEL dominated with 32.84% of total market turnover.
Among the gainers, NSLTECH topped the chart with a 9.09% price increase, while CONHALLPLC (+8.53%), JOHNHOLT (+7.94%), and CADBURY (+5.45%) also posted notable advances. On the flip side, LEARNAFRCA, LEGENDINT, and DAARCOMM led the losers with a 10% dip each, alongside sharp declines in UNIVINSURE (-9.60%), CAP (-7.41%), and INTBREW (-5.08%).
Sectoral performance skewed negative, with the Insurance index plunging 4.46% and Consumer Goods slipping 1.32%. Losses were also recorded in Banking (-0.55%), Oil & Gas (-0.44%), and Commodities (-0.08%). The Industrial sector stood out with a modest 0.23% gain.
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