The Nigerian equities market extended its bearish run on Wednesday as the NGX All-Share Index (ASI) declined by 1.44% to close at 243,132.61 points, wiping N2.28 trillion off investors’ wealth and dragging market capitalization down to N155.94 trillion.
- +Nigerian stocks shed N2.28 trillion as selloffs extend to day 3
Trading data from the Nigerian Exchange (NGX) showed that the market recorded its third consecutive loss, as heavy selloffs in large-cap stocks including MTN Nigeria, Lafarge Africa, First HoldCo, and NGX Group weighed significantly on investor sentiment.
Trading data from the Nigerian Exchange (NGX) showed that the market recorded its third consecutive loss, as heavy selloffs in large-cap stocks including MTN Nigeria, Lafarge Africa, First HoldCo, and NGX Group weighed significantly on investor sentiment.
The decline moderated the market’s year-to-date return to 56.24% from 58.53% recorded in the previous session, while market breadth remained firmly negative with 43 decliners outperforming 15 gainers.
Despite the bearish performance, trading activity strengthened considerably, reflecting sustained market participation as investors repositioned their portfolios amid ongoing profit-taking.
Investor sentiment remained weak throughout the session as losses across major sectors overshadowed gains recorded in selected banking and insurance counters. Highlight of Wednesday’s trading shows:
Lafarge Africa led the losers’ chart after shedding 9.97% to close at N307.90, while John Holt and Learn Africa also recorded near-maximum declines of 9.80% each. Consolidated Hallmark Holdings and NEM Insurance completed the top five laggards.
On the gainers’ table, Abbey Mortgage Bank recorded the strongest advance, rising 9.93%, followed closely by International Energy Insurance, Tripple Gee & Company, Universal Insurance, and Royal Exchange.
Sectoral performance was broadly negative. Insurance stocks led losses with a 2.76% decline, followed by Banking (-1.53%), Industrial Goods (-1.55%), Consumer Goods (-0.28%), and Oil & Gas (-0.05%). The Commodity Index closed flat.
The market downturn was primarily driven by aggressive selloffs in heavyweight counters.
Financial Services remained the most active sector by volume, accounting for over 629 million shares traded, while the ICT sector dominated value traded with N17.81 billion, largely supported by MTN Nigeria transactions.
Wednesday’s decline extends the market’s recent correction phase after the NGX All-Share Index climbed to a historic peak of 252,508 points in May 2026.
Analysts expect market sentiment to remain cautious in the near term as investors continue to lock in profits following the market’s strong rally earlier in the year, although bargain hunting may emerge in fundamentally strong counters.