NGX Extends Losses as Investors Shed ₦556 Billion in One Session

The Nigerian equities market closed lower on Wednesday, wiping ₦556 billion off the value of listed stocks as sell-offs in heavyweight shares dragged key indicators down. Market capitalisation fell 0.36% from ₦155.973 trillion to ₦155.417 trillion. The All-Share Index also declined by 860.76 points to close at 241,611.23, reducing the market’s year-to-date return to 54.71%. International Energy Insurance, Aradel, Universal Insurance, Red Star Express and Royal Exchange were among the major losers. Haldane McCall, WAPIC, UAC of Nigeria, AVA Capital and Caverton recorded notable gains. Trading volume rose sharply to 1.19 billion shares worth ₦37.82 billion across 34,546 deals. Fortis Global Insurance led activity by volume, while MTN Nigeria recorded the highest value of trades.

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