Nigerian Stock Market Declines 0.69% as Sell-Off in Key Stocks Drags ASI Lower
The Nigerian Exchange Limited (NGX) closed on a bearish note on Wednesday as profit-taking activities in key stocks dragged the All-Share Index (ASI) down by 0.69 percent.
The ASI declined to 201,156.85 points amid sustained selling pressure across major sectors, particularly in oil palm, logistics, and select consumer goods equities.
Market capitalization of listed equities dropped to ₦129.13 trillion, indicating a reduction in investors’ portfolio value amid the negative sentiment.
Despite the decline, trading activity remained strong as investors exchanged a total of 6.06 billion shares valued at ₦130.06 billion across 58,562 deals. The surge in volume highlights increased market participation, driven largely by block trades and repositioning activities.
The bond market capitalization closed at ₦48.14 trillion, while activity in the ETF segment remained active despite earlier system indications showing zero valuation.
Market performance was weighed down by declines in major stocks, overshadowing gains recorded in a handful of equities.
NSL Tech Plc led the gainers’ chart with a 10.00 percent increase to close at ₦1.32 per share. Guinness Nigeria Plc followed with a 9.92 percent gain to ₦423.20, supported by renewed investor interest.
John Holt Plc rose by 9.72 percent to ₦11.85, while Sovereign Trust Insurance Plc and Linkage Assurance Plc appreciated by 9.57 percent and 9.33 percent to close at ₦2.06 and ₦1.64, respectively.
On the losers’ table, Red Star Express Plc recorded the highest decline, shedding 9.98 percent to close at ₦25.70. Aradel Holdings Plc followed with a 9.68 percent drop to ₦1,210.30.
Presco Plc declined by 9.30 percent to ₦1,701.10, while LivingTrust Mortgage Bank Plc and DAAR Communications Plc lost 8.40 percent and 7.50 percent to close at ₦4.80 and ₦1.85, respectively.
Market activity analysis showed that E-Tranzact International Plc dominated trading by volume with 5.17 billion shares valued at ₦24.29 billion, indicating significant institutional or block transactions.
Wema Bank Plc followed with 111.40 million shares worth ₦3.08 billion, while Wapic Insurance Plc recorded 96.42 million shares valued at ₦303.87 million.
Dangote Cement Plc led by value with ₦56.48 billion traded across 75.24 million shares, reflecting strong institutional interest. Access Holdings Plc also recorded notable activity with 61.45 million shares valued at ₦1.59 billion.
The ETF segment recorded positive movements as NewGold ETF gained ₦5,000.00 to close at ₦105,000.00. SIAML ETF 40 rose by ₦813.73 to ₦8,951.03, while GreenW ETF appreciated by ₦46.00 to ₦790.00.
Meristem Growth ETF and Meristem Value ETF also recorded gains of ₦40.90 and ₦32.90 to close at ₦449.90 and ₦361.90, respectively, reflecting sustained interest in diversified investment instruments.
In the fixed income market, instruments such as AXA2027S1, CEMC2045S1, CP26DCPS02, DAN2034S1, and FG182032S2 closed unchanged, indicating stable pricing and low volatility within the debt segment.
The overall market outlook suggests cautious trading in the near term as investors continue to take profit in recently appreciated stocks while selectively accumulating fundamentally strong equities.
Analysts expect mixed sentiment to persist, with opportunities in banking, industrial, and high-liquidity stocks likely to attract sustained interest despite broader market weakness.
