Early this week, the stock market remained in a bearish trend, resulting in a loss of N81 billion for investors in the Nigerian Exchange Limited.
Market capitalization fell by 0.12 percent, decreasing from N66.577 trillion on Tuesday to N66.496 trillion on Wednesday.
The All-Share Index also experienced a decline of 0.12 percent, dropping 130.33 points to close at 105,800.85, down from 105,931.18 the previous day.
This downturn was primarily driven by sell-offs in major stocks.
Despite this, the market breadth was positive, with 39 stocks advancing compared to 25 that declined.
Among the gainers, University Press saw a 10 percent increase, reaching N3.74, while Vitafoam also rose by 10 percent, closing at N52.80 per share.
Livestock Feeds surged by 9.97 percent, finishing at N8.49, and C & I Leasing Plc climbed by 9.89 percent, closing at N4.00 per share.
McNichols Plc recorded a gain of 9.88 percent.
On the losers’ table, Ecobank Transnational Incorporated experienced a 10 percent decline, closing the session at N28.80. International Breweries also fell by 10 percent, finishing at N7.38 per share.
Ikeja Hotel Plc saw a decrease of 9.89 percent, ending at N12.30, while Cadbury Nigeria dropped by 9.80 percent, settling at N29.00 per share.
Additionally, Austin Laz and Company Plc lost 9.52 percent, closing at N1.71 per share.
In total, 392.99 million shares were traded, amounting to N12.755 billion across 17,519 transactions. This contrasts with the previous session, where 733.05 million shares worth N35.288 billion were exchanged in 16,619 deals.
United Bank for Africa led the trading activity with 38.858 million shares valued at N1.36 billion. Wema Bank followed with 26.616 million shares worth N400 million, while Fidelity Bank recorded transactions of 25.39 million shares valued at N525.05 million.
Earlier, the NGX group reported a profit of N2.1 billion for the first quarter of 2025.
