The Nigerian equities market closed Wednesday’s trading session in negative territory, extending its losing streak to four consecutive days as investors suffered a combined loss of N758 billion.
The downturn was driven by widespread profit-taking in major mid- and large-cap stocks across key sectors of the Nigerian Exchange (NGX).
Market capitalisation fell by 0.49 per cent, declining from N155.203 trillion to N154.445 trillion, reflecting sustained bearish sentiment.
The All-Share Index (ASI) also weakened, shedding 1,182.08 points to close at 240,802.72, compared to the previous 241,984.80.
Despite the losses, the market still maintains a strong year-to-date (YTD) return of 54.74 per cent.
Stocks such as Geregu Power, Okomu Oil, Red Star Express, Consolidated Hallmark Holdings, and International Energy Insurance were among the major decliners.
A total of 46 equities recorded losses during the trading session, reflecting broad market weakness.
Market breadth closed negative with 51 losers compared to 13 gainers, confirming strong selling pressure across sectors.
Geregu Power led the decliners, dropping 10 per cent to close at N1,019.30.
Okomu Oil followed with a 9.97 per cent decline, ending at N1,418, while Red Star Express fell 9.95 per cent to close at N27.60.
Other notable losers included Consolidated Hallmark Holdings, down 9.91 per cent to N7.82, and International Energy Insurance, which slipped 9.90 per cent to N5.19.
Despite the bearish trend, some stocks posted gains.
Neimeth Pharmaceuticals led the gainers’ chart with a 9.47 per cent increase, closing at N9.25.
Cornerstone Insurance rose 9.26 per cent to N5.90, while VFD Group gained 7.96 per cent to close at N10.85.
Other gainers included McNichols, up 7.14 per cent, and Sunu Assurances, which advanced 3.91 per cent.
Trading volume increased by 23.79 per cent, with 662.96 million shares worth N39.98 billion exchanged in 51,143 transactions.
Access Holdings dominated volume trading with 130.26 million shares, representing 19.65 per cent of total trades.
Meanwhile, MTN Nigeria led in value terms, recording transactions worth N8.19 billion, accounting for 20.48 per cent of total market value.
