The Nigerian Exchange (NGX) recorded a market downturn on Wednesday as investors engaged in strategic profit-taking on select mid-tier and blue-chip equities, wiping out approximately ₦121 billion from the total market value.
After a sustained bullish rally, the local bourse closed in the red, with sell-side activities outweighing buying momentum. The All-Share Index (ASI) shed 0.13%, settling at 145,865.48 points, and trimming the year-to-date (YTD) return to 41.72%.
Market analysts noted that the pullback, despite a generally positive market breadth, underscored the influence of calculated exits by investors aiming to lock in recent gains. Trading activity showed mixed signals—total trade volume rose by 5.06%, but total trade value slid by 16.65%.
Data from the NGX indicated that a total of 1.341 billion units worth ₦20.215 billion exchanged hands across 30,749 transactions. UNIVINSURE led the volume chart, accounting for 14.43% of total market turnover, followed by JAPAULGOLD (9.19%), VERITASKAP (6.96%), ACCESSCORP (6.34%), and STERLINGNG (5.09%).
In terms of value, ACCESSCORP dominated, representing 11.64% of the total market value traded. The gainers’ list was led by FTNCOCOA, LEARNAFRCA, RTBRISCOE, CAVERTON, PRESTIGE, and TRIPPLEG, each appreciating by 10.00%.
Other top advancers included MANSARD (+9.99%), ELLAHLAKES (+9.96%), CONHALLPLC (+9.96%), ABBEYBDS (+9.95%), CORNERST (+9.94%), alongside 42 other stocks that closed higher.
On the flip side, 20 equities closed in the negative zone. THOMASWY topped the losers’ chart with a 10.00% decline, followed by BERGER (-6.16%), NB (-3.90%), WAPCO (-2.14%), ZENITHBANK (-1.96%), and TRANSCORP (-1.06%).
The bearish session erased ₦120.91 billion from market capitalisation, which settled at ₦92.28 trillion. Despite the decline, market breadth remained positive, with 53 gainers against 21 decliners, signalling persistent bargain-hunting interest.
Sector performance was largely negative—Banking (-0.53%), Consumer Goods (-0.91%), Industrial Goods (-0.33%), and Commodities (-0.03%) all ended in the red. Conversely, Insurance (+7.94%) and Oil & Gas (+0.12%) posted marginal gains, supported by renewed demand in selected counters.
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