The Nigerian Exchange Limited (NGX) closed Wednesday’s trading session on a negative note as persistent selling pressure pushed the market’s benchmark indicators further into negative territory.
The All-Share Index fell by 402.25 points to close at 238,682.92 points, compared with 239,085.17 points recorded at the previous session on Monday.
There was no trading on Tuesday after the Federal Government declared a public holiday to commemorate the 2026 Eid-el-Maulud celebration.
The decline in the benchmark index was accompanied by a N259.04 billion contraction in overall equity market capitalisation, which closed at N154.14 trillion.
The market’s decline came as the Central Bank of Nigeria maintained its Monetary Policy Rate at 26.50 per cent.
Sectoral performance across the exchange was largely negative, with several key indices recording losses.
The NGX Banking Index declined to 2,447.97 points, pressured by losses in major banking stocks. Zenith Bank Plc fell by 2.13 per cent to N119.40 per share, while Guaranty Trust Holding Company Plc declined by 0.08 per cent to N127.60 per share.
Insurance stocks also recorded broad declines, dragging the NGX Insurance Index down to 1,070.51 points.
The weakness extended to the consumer goods and energy sectors, with the NGX Consumer Goods Index falling to 4,028.23 points and the NGX Oil/Gas Index declining to 4,954.75 points.
Despite the broader bearish sentiment, some equities recorded significant gains during the session.
Neimeth International Pharmaceuticals Plc led the gainers’ chart, rising 9.66 per cent to close at N7.95 per share.
NEM Insurance Plc followed with a 6.67 per cent gain to N32.00 per share, while Regency Alliance Insurance Plc advanced by 6.25 per cent to N0.85 per share.
Other gainers included Linkage Assurance Plc, UPDC Real Estate Investment Trust and Dangote Sugar Refinery Plc, which gained 1.47 per cent to close at N69.00 per share.
On the losing side, Fidson Healthcare Plc recorded the biggest decline, falling 9.99 per cent to N84.20 per share.
FTN Cocoa Processors Plc followed with a 9.94 per cent decline to N7.79 per share, while International Energy Insurance Plc dropped 9.74 per cent to N3.15 per share.
Livestock Feeds Plc and Omatek Ventures Plc also recorded sharp declines of 9.43 per cent and 9.42 per cent, respectively.
Trading activity remained strong, with more than 733.25 million shares exchanged in 49,116 deals.
Financial services stocks attracted significant activity from institutional and retail investors, with First HoldCo Plc recording more than 88.9 million shares traded. Access Holdings Plc followed with approximately 32.6 million shares.
In the Exchange Traded Funds market, the Lotus Halal Equity ETF led the gainers after advancing 8.46 per cent to N125.00.
The Vetiva Industrial ETF recorded the biggest decline among ETFs, falling 9.02 per cent to N109.00.
Activity in the debt securities market remained minimal, with bond valuations largely unchanged during the session.
