The Nigerian Exchange Limited concluded Wednesday’s trading session on a subdued note, as persistent selling pressure pushed equities benchmark indicators further into negative territory. The All-Share Index dropped by 402.25 points to settle at 238,682.92 points, down from 239,085.17 points recorded during the previous session on Monday.
There was no trading on Tuesday, as the Federal Government declared a public holiday in commemoration of the 2026 Eid-el-Maulud celebration. Reflecting this downward movement, the overall equity market capitalisation contracted by N259.04bn to close at N154.14tn, touching its lowest point of the period as the Central Bank of Nigeria maintained its Monetary Policy Rate at 26.50 per cent.
Sectoral performances across the exchange reflected widespread weakness, with several key sector indices recording losses. The NGX Banking Index lost ground to close at 2,447.97 points, driven down by dips in heavyweights such as Zenith Bank Plc, which declined 2.13 per cent to N119.40 per share, and Guaranty Trust Holding Company Plc, which slipped 0.08 per cent to N127.60 per share.
Insurance stocks also experienced broad declines, pulling the NGX Insurance Index down to 1,070.51 points. Additional downward pressure hit the consumer goods and energy sectors, as the NGX Consumer Goods Index fell to 4,028.23 points and the NGX Oil/Gas Index dipped to 4,954.75 points.
Despite the overall bearish sentiment across the market, select equities managed to post notable gains. Neimeth International Pharmaceuticals Plc led the gainers’ chart, surging 9.66 per cent to close at N7.95 per share. NEM Insurance Plc followed with a 6.67 per cent rally to N32.00 per share, while Regency Alliance Insurance Plc gained 6.25 per cent to reach N0.85 per share. Other positive performers for the day included Linkage Assurance Plc, UPDC Real Estate Investment Trust, and Dangote Sugar Refinery Plc, which advanced 1.47 per cent to close at N69.00 per share.
Conversely, market sentiment was dragged down by sharp pullbacks in pharmaceutical and agricultural counters. Fidson Healthcare Plc topped the losers’ list, falling 9.99 per cent to close at N84.20 per share. FTN Cocoa Processors Plc experienced a similar sharp drop of 9.94 per cent to N7.79 per share, while International Energy Insurance Plc slid 9.74 per cent to N3.15 per share. Livestock Feeds Plc and Omatek Ventures Plc also saw severe declines, falling 9.43 per cent and 9.42 per cent, respectively.
Trading activity across the market floor remained active, recording a total equity volume of over 733.25 million shares valued across 49,116 deals. Institutional and retail investors traded heavily in financial services, with First HoldCo Plc logging over 88.9 million shares traded and Access Holdings Plc following with 32.6 million shares.
In the Exchange Traded Funds market, the Lotus Halal Equity ETF led the advancers with an 8.46 per cent jump to N125.00, whereas the Vetiva Industrial ETF logged the biggest drop among ETFs, sinking 9.02 per cent to N109.00. Debt securities registered minimal activity on the day, leaving bond valuations largely unchanged.