The Nigerian stock market remained bearish on Wednesday, as investors on the Nigerian Exchange Limited (NGX) saw a collective loss of N81 billion.
Market capitalisation dipped by 0.12 percent, falling to N66.496 trillion from Tuesday’s N66.577 trillion. Similarly, the All-Share Index declined by 130.33 points, or 0.12 percent, to close at 105,800.85, compared to 105,931.18 in the previous session.
The downturn was primarily driven by sell-offs in major stocks.
Despite the overall market drop, the market breadth was positive, with 39 gainers outpacing 25 losers.
Among the top performers, University Press and Vitafoam each gained 10 percent, closing at N3.74 and N52.80, respectively. Livestock Feeds rose 9.97 percent to N8.49, while C & I Leasing advanced 9.89 percent to N4.00. McNichols Plc also posted a 9.88 percent gain, ending the day at N1.89.
On the downside, Ecobank Transnational Incorporated and International Breweries both dropped 10 percent, finishing at N28.80 and N7.38, respectively. Ikeja Hotel Plc fell 9.89 percent to N12.30, Cadbury Nigeria shed 9.80 percent to N29.00, and Austin Laz and Company Plc declined 9.52 percent to N1.71.
Total trading volume stood at 392.99 million shares valued at N12.755 billion across 17,519 deals — a notable drop from Tuesday’s 733.05 million shares worth N35.288 billion exchanged in 16,619 transactions.
United Bank for Africa led the trading activity with 38.858 million shares worth N1.36 billion. Wema Bank followed with 26.616 million shares valued at N400 million, and Fidelity Bank recorded trades of 25.39 million shares worth N525.05 million.
Meanwhile, NGX Group reported a profit of N2.1 billion for the first quarter of 2025.