The Nigerian Exchange (NGX) closed negative on Wednesday as profit-taking in heavyweight stocks dragged the market lower.
The All-Share Index (ASI) fell by 0.73% to close at 141,566.31 basis points, down from 142,606.73 points in the previous session.
Market capitalization dropped by N660 billion, settling at N89.56 trillion from N90.22 trillion recorded on Tuesday.
Market Activity
Investors traded 721.82 million units of shares valued at N12.94 billion across 28,745 deals.
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Equity Market Cap: N89.56 trillion
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Bond Market Cap: N50.94 trillion
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ETF Market Cap: N40.11 billion
Top Gainers
The session saw strong gains in mid- and small-cap stocks:
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Austin Laz (AUSTINLAZ): rose 10.00% to N2.64
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Champion Breweries (CHAMPION): up 9.97% to N19.74
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NCR Nigeria (NCR): gained 9.77% to N9.55
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Multiverse Mining (MULTIVERSE): appreciated 8.82% to N11.10
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Enamelware (ENAMELWA): advanced 8.64% to N39.00
Top Losers
Blue-chip stocks dominated the losers’ chart:
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Guinness Nigeria (GUINNESS): fell 9.98% to N140.20
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Conoil (CONOIL): dropped 9.98% to N211.10
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Continental Hall (CONHALLPLC): declined 9.94% to N4.35
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Royal Exchange (ROYALEX): shed 9.92% to N2.27
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Ellah Lakes (ELLAHLAKES): decreased 9.81% to N14.90
Top Trades
Trading activity was led by high-volume transactions in financial services and consumer stocks:
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Champion Breweries (CHAMPION): 54.52m units valued at N988.28m
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Universal Insurance (UNIVINSURE): 47.83m units valued at N57.34m
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Royal Exchange (ROYALEX): 46.15m units valued at N105.15m
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Regency Alliance (REGALINS): 40.77m units valued at N55.52m
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AIICO Insurance (AIICO): 39.28m units valued at N156.43m
Bond Market
Bond instruments traded mixed with notable price movement in FGS202774:
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FGS202774: rose significantly from N67.00 to N128.00
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FGS202785, IAO2026S1, NMR2030S1, ABB2026S0: closed flat at previous levels
Exchange-Traded Funds (ETFs)
ETF activity recorded moderate gains:
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NewGold ETF (NEWGOLD): gained N3,800 to close at N55,000
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Vetiva Consumer Goods ETF (VETGOODS): rose 0.50 to N32.50
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Meristem Value ETF (MERVALUE), Greenworld ETF (GREENWETF), SIAML ETF 40: closed flat
Market Outlook
The negative close was driven largely by sell pressure in Guinness Nigeria and Conoil, two major contributors to market capitalization.
However, renewed interest in Champion Breweries and other growth stocks helped cushion deeper losses.
Analysts expect market sentiment to remain mixed in the coming sessions as investors balance profit-taking with opportunities in undervalued equities.
