The Nigerian Exchange (NGX) closed trading on Wednesday in negative territory, as sustained sell pressure across key sectors dragged market indices lower and wiped N351.75 billion off investors’ wealth.

The NGX All-Share Index (ASI) declined by 0.33 per cent to close at 165,164.38 points, while total market capitalisation fell to N105.74 trillion from the previous session’s level, reflecting broad-based weakness in investor sentiment.

Market breadth remained negative at 0.8x, with 38 declining stocks outweighing 32 advancers, underscoring the cautious mood that dominated trading activities.

Despite the bearish close, select stocks posted gains, with UPDC House Office Real Estate Investment Trust, Deap Capital Management and Trust, Tantalizers Plc, Skyway Aviation Handling Company, and Morison Industries emerging as the session’s top performers.

On the losers’ table, R T Briscoe (Nigeria) Plc led the decliners, followed by May & Baker Nigeria Plc, Ikeja Hotel Plc, LivingTrust Mortgage Bank Plc, and eTranzact International Plc, as sell-offs intensified in several mid- and small-cap stocks.

Sectoral performance mirrored the weak market sentiment, with the Insurance index leading declines after shedding 1.32 per cent. This was followed by the Consumer Goods index, which fell by 0.49 per cent, the Banking index, down 0.44 per cent, and the Oil and Gas index, which slipped by 0.04 per cent. The Industrial Goods and Commodity sectors, however, closed largely flat, providing limited support to the broader market.

Trading activity showed mixed signals. Share volume surged by 29 per cent to 623.18 million units, while the number of deals rose marginally by 1.62 per cent to 42,172 transactions, indicating increased market participation. However, transaction value declined by 4.82 per cent to N16.54 billion, reflecting lower-value trades and cautious positioning by institutional investors.

Analysts say the bearish close reflects profit-taking in key stocks and continued investor caution amid macroeconomic uncertainties, noting that market direction in the near term will likely depend on earnings expectations, macroeconomic signals, and policy clarity.

 

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