The Nigerian equities market closed the final trading session of September on a bearish note, as profit-taking dragged key benchmark metrics lower, eroding N425.73bn in investor wealth.
At the close of transactions on Wednesday, the All-Share Index of the Nigerian Exchange Limited dropped by 0.28 per cent to settle at 251,211.67 basis points, compared to 251,913.20 points recorded on Tuesday.
In tandem with the contraction in index points, total market capitalisation shrank from N163.53tn to N163.10tn.
Market sentiment remained mixed across key sector indices, with heavy selling pressure impacting blue-chip banking and telecommunications firms, while selective demand in industrial and consumer goods stocks provided mild cushioning.
The NGX Premium Index slid by 1.02 per cent to close at 31,771.57 points, largely hampered by losses in major telecom and banking giants.
The NGX Banking Index lost 0.58 per cent to drop to 2,712.10 points, while the NGX Insurance Index fell by 1.01 per cent to 1,087.10 points.
Conversely, the NGX Industrial Index posted a gain of 0.66 per cent to reach 10,440.27 points, buoyed by buying interest in BUA Cement Plc. The NGX Consumer Goods Index recorded a slight uptick of 0.04 per cent to finish at 4,058.25 points, while the NGX Growth Index expanded by 0.68 per cent to 27,452.85 points.
Trading volume across the bourse experienced substantial activity, with investors exchanging 1.035 billion shares in 44,398 deals.
VFD Group Plc led the volume chart, recording an exchange of 367.32 million shares. UAC of Nigeria Plc followed with 158.18 million shares traded, Abbey Mortgage Bank Plc with 72.43 million shares, Chams Holding Company Plc with 63.89 million shares, and Guaranty Trust Holding Company Plc with 39.55 million shares.
On the gainers’ chart, Haldane McCall Plc emerged as the top performer, advancing by the maximum daily limit of 10.00 per cent to close at N3.41 per share from N3.10.
Critical Minerals Financing Corp Plc appreciated by 9.92 per cent to close at N4.32, Cornerstone Insurance Plc climbed 9.80 per cent to N5.60, LivingTrust Mortgage Bank Plc surged 9.79 per cent to N3.14, and ABC Transport Plc rose 9.76 per cent to N6.75 per share.
Other notable gainers included Royal Exchange Plc (+9.52 per cent to N1.15), VFD Group Plc (+8.21 per cent to N14.50), BUA Cement Plc (+N9.20 to N297.00), and Oando Plc (+1.45 per cent to N35.00).
On the losers’ log, Learn Africa Plc topped the decliners, dropping 10.00 per cent to close at N7.65 per share from N8.50. Thomas Wyatt Nigeria Plc fell by 9.80 per cent to N2.67, while Sovereign Trust Insurance Plc lost 6.78 per cent to end at N2.20.
Heavyweight telecom stock MTN Nigeria Communications Plc recorded a decline of 3.01 per cent, shedding N26.00 to close at N837.00 per share
Tier-one lenders also faced selling pressure as Access Holdings Plc declined 2.25 per cent to N30.40, United Bank for Africa Plc dropped 1.20 per cent to N45.45, and GTCO eased 0.38 per cent to N132.00 per share.