The Nigerian Exchange (NGX) closed Wednesday’s trading session on a bearish note, wiping off ₦324 billion from the market capitalization as investors cashed out profits across various sectors.
The All-Share Index (ASI) dropped by 0.36% to settle at 141,248.76 points, cutting the year-to-date return to 37.23%. As a result, total market value slid to ₦89.37 trillion from the previous day’s ₦89.69 trillion.
Trading details revealed weak investor sentiment, with 16 stocks appreciating against 40 that declined. Analysts described the losses as a reflection of cautious trading and sustained profit-taking.
Despite the downturn, trading activity was robust, with transaction volume rising by 18.94% and value surging by 79.05%. A total of 682.89 million shares worth ₦22.22 billion exchanged hands in 28,695 deals.
In terms of activity, FCMB led in volume (15.99%), followed by STERLINGNG (12.68%), CUTIX (6.75%), ACCESSCORP (5.80%), and FIRSTHOLDCO (5.27%). On value, ARADEL dominated with 18.56% of the total turnover.
Among gainers, DEAPCAP rose 4.82%, while LEGENDINT appreciated 4.63%. Others included HONYFLOUR (+4.17%), TANTALIZER (+3.60%), AFRIPRUD (+3.13%), and UBA (+2.27%).
Conversely, CORNERST and RTBRISCOE led the losers with a -10% drop each. Other major laggards included NGXGROUP (-9.70%), GUINNESS (-7.28%), VFDGROUP (-5.98%), GTCO (-3.06%), and ELLAHLAKES (-2.29%).
Sectoral performance ended mixed, with Banking (-0.76%), Insurance (-3.42%), and Consumer Goods (-0.86%) closing lower. Oil & Gas gained 0.18%, while Industrial and Commodities traded flat.
 closed Wednesday’s trading session on a bearish note, wiping off ₦324 billion from the market capitalization...){kind=link}