Nigerian stock market extends bearish streak as investors record fresh N758bn loss 

The Nigerian stock exchange continued its downward trend on Wednesday, with investors incurring a loss of N758 billion.

Market data for the day show that the overall market capitalization fell by N758 billion, a 0.49 percent decline, to N154.445 trillion from N155.203 trillion recorded on Tuesday.

The All‑Share Index (ASI) dropped 1,182.08 points, also a 0.49 percent decrease, closing at 240,802.72 compared with 241,984.80 the previous session.

This pullback reduced the market’s year‑to‑date return to 54.74 percent.

Market breadth ended in the negative, with 51 stocks losing value against 13 gaining.

The largest loser was Geregu, which fell 10 percent to close at N1,019.30. Okomu Oil trailed with a 9.97 percent decline, finishing at N1,418, while Red Star Express shed 9.95 percent, ending at N27.60 per share.

On the upside, Neimeth Pharmaceuticals led the gainers, rising 9.47 percent to N9.25. Other notable gains came from Cornerstone Insurance, VFD Group, Mc Nichols, and Sunu Assurances.

Trading activity improved during the session, with total volume rising 23.79 percent to 662.96 million shares, worth N39.98 billion across 51,143 transactions.

Access Corporation was the most heavily traded stock by volume, with 130.26 million shares exchanged, representing 19.65 percent of the total volume.

MTN Nigeria topped the value chart, with transactions worth N8.19 billion, accounting for 20.48 percent of the day’s total market value.

DAILY POST reports that investors have continued to experience significant portfolio declines over the last three days.