Investors on the Nigerian Exchange Limited suffered a sharp setback on Wednesday, with equities retreating after Tuesday’s advance. The sell-off translated into a loss of N1.62 trillion for market participants as the market reversed course, driven by the latest decision from the Central Bank of Nigeria to keep the policy interest rate unchanged at 26.50% following the conclusion of its 305th Monetary Policy Committee meeting.
As sentiment cooled, overall market capitalisation fell by 1.02%—a decline of N1.619 trillion—to close at N159.660 trillion, down from N161.279 trillion recorded in the prior session. The All-Share Index mirrored the broad decline, dropping by 2,573.05 points, also equivalent to a 1.02% fall, to end at 249,062.37 versus 251,635.42 earlier. The pullback also trimmed the year-to-date performance, with the return slipping to 60.05%.
Even with the negative price pressure, the session finished with a positive breadth profile. A total of 41 stocks advanced while 25 declined, indicating that gains in selected names were not enough to offset losses across the broader market. Among the best performers, Zichis Agro Allied Industries and ABC Transport each gained 9.99%, closing at N32.04 and N8.26 per share respectively. Ja Paul Gold rose 9.95% to settle at N4.09, Livingtrust Mortgage Bank added 9.92% to close at N4.21, and FTN Cocoa Processors climbed 9.91%, ending the day at N10.76 per share.
On the other side, BUA Cement led the laggards with a 10% drop, finishing at N414. CAP fell by 9.99% to N210.35, while E-Tranzact declined 7.03% to close at N17.20 per share. International Breweries shed 5.38% to end at N12.30, and Deap Capital Management slipped 4.92%, settling at N5.80 per share.
Trading activity also weakened. Total volume declined by 14.74% to 600.22 million shares, with turnover falling to N32.72 billion across 58,958 deals. Access Corporation accounted for the highest trading volume, with 55.96 million shares exchanged, representing 9.32% of total shares traded. Zenith Bank, meanwhile, led by value, recording transactions worth N4.81 billion—equivalent to 14.69% of total market value.
