The Nigerian Exchange (NGX) closed in the red on Wednesday as sustained sell-offs across major stocks dragged market performance lower.
Investors recorded a total loss of ₦663 billion, with the market capitalisation dropping from ₦90.227 trillion to ₦89.564 trillion, representing a 0.73% decline. The All-Share Index also fell by 1,047.16 points, closing at 141,566.31 compared to 142,613.47 in the previous session.
Market breadth remained negative, with 52 losers against 18 gainers. Conoil and Guinness Nigeria led the laggards with a 9.98% decline each, settling at ₦211.10 and ₦140.20 per share, respectively.
Other significant losers included Consolidated Hallmark Holdings (-9.94% to ₦4.35), Royal Exchange (-9.92% to ₦2.27), and FG142027S1 (-36.97% to ₦75).
On the flip side, Austin Laz topped the gainers’ chart with a 10% rise to ₦2.64, followed by Champion Breweries (+9.97% to ₦19.74), NCR Nigeria (+9.77% to ₦9.55), Multiverse Mining (+8.82% to ₦11.10), and Enamelware (+8.64% to ₦39).
Trading activity slowed, as total volume and value declined. Investors exchanged 721.82 million shares worth ₦12.94 billion in 28,745 deals, compared to 1.03 billion shares valued at ₦17.66 billion in 34,352 deals on Tuesday.
Champion Breweries led the activity chart with 54.5 million shares valued at ₦988.3 million, followed by Universal Insurance (47.8m shares worth ₦57.3m), Royal Exchange (46.2m shares worth ₦105.2m), Regency Alliance Insurance (40.8m shares worth ₦55.5m), and AIICO Insurance (39.3m shares worth ₦156.4m).
 closed in the red on Wednesday as sustained sell-offs across major stocks dragged market performance lower.){kind=link}