WED JULY 01 2026-theGBJournal| Nigeria’s equity market posted its steepest single-day decline in weeks on Wednesday, as a sell-off in heavyweight industrial and consumer stocks erased about N2.4 trillion from investors’ portfolios, underscoring renewed profit-taking after an extended rally that had lifted the market to record highs earlier this year.
The benchmark NGX All-Share Index (ASI) fell 1.63% to close at 225,690.07 points, dragging the market’s year-to-date return lower to 45.03%, while total market capitalisation declined by the same margin to N144.82 trillion.
The retreat was led by heavyweight constituents, with Aradel Holdings slumping 10.00%, NASCON Allied Industries shedding 9.98%, and Dangote Cement falling 7.48%, outweighing gains in AustinLaz & Company, which rose 10.00%, PZ Cussons Nigeria, up 5.26%, and DAAR Communications, which advanced 9.60%.
The broad-based decline reflected a resurgence of selling pressure across key sectors, with investors locking in gains accumulated over recent months.
The weakness in Dangote Cement, one of the exchange’s largest capitalised stocks, amplified the downward pressure on the benchmark index and reinforced the cautious mood that dominated trading.
Market participation also weakened significantly as investors retreated from the market.
Total trading volume fell 49.50% to 488.12 million shares, while the value of transactions plunged 65.09% to N13.96 billion, indicating reduced appetite for risk despite the sharp price adjustments.
Sterling Financial Holdings emerged as the most actively traded stock by volume, while Zenith Bank accounted for the largest value of transactions, with shares worth N2.14 billion changing hands despite its 4.50% decline.
Market breadth remained firmly negative, highlighting the extent of the sell-off. Thirty-two stocks ended the session in the red against 22 gainers, producing a market breadth ratio of 0.69x.
Neimeth International Pharmaceuticals led the losers with a 10.00% decline, while AustinLaz topped the gainers after posting the maximum daily gain of 10.00%.
Sentiment was similarly subdued in the over-the-counter market, where the NASD Securities Index declined 0.73% to 4,268.20 points, reducing market capitalisation to N2.56 trillion.
Despite the day’s losses, the NASD market maintained a year-to-date return of 20.44%.
Trading activity on the NASD market presented a mixed picture. Although transaction volume dropped sharply by 72.91%, the value of trades rose 34.61% to N21.54 million, with 229,238 shares exchanged across 18 deals.
SDO Kiti Pupa Plc recorded the session’s biggest decline, falling 11.11%, while no listed security closed higher, reflecting the cautious tone that prevailed across the broader Nigerian capital market.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
