Nigerian Equities Market Declines Amid Sell-Offs
On Wednesday, the Nigerian equities market continued its downward trend, primarily driven by profit-taking in high-priced energy and insurance stocks. The benchmark All-Share Index (ASI) fell by 0.36%, or 860.76 points, closing at 240,750.47 points, down from 241,611.23 points the previous day.
The overall market capitalization decreased by N555.68 billion, closing at N155.42 trillion compared to N155.97 trillion in the prior session. Notable sell-offs were observed in the energy sector, with Aradel Holdings Plc experiencing a maximum daily price correction of 9.99%, closing at N1,374.20 per share.
In contrast, Japaul Gold & Ventures Plc and Oando Plc recorded slight gains. The insurance sector faced intense selling pressure, with International Energy Insurance Plc dropping 10.00% to N4.77 per share.
Other insurers like Universal Insurance Plc and Royal Exchange Plc also saw significant declines. Conversely, Haldane McCall Plc led the gainers with a 10.00% increase.
The banking sector showed mixed results, with United Bank for Africa Plc and Zenith Bank Plc posting gains, while others like Sterling Financial Holdings Company Plc experienced losses.
Plus234Feed summary based on reporting from Punch Newspapers. Read the original report below.
Read full article
Continue on Punch Newspapers
Enjoy this article?
Get the weekly Nigerian roundup — top stories, NPFL, naira. One email, Sunday morning.
Related Stories
NGX Market Declines as 41 Stocks Close Lower
Nigerian Exchange NGX Declines by N13 Billion on Friday
NGX Market Wrap 27 July 2026 | Plus234Feed
NGX Market Wrap August 5, 2026 | Plus234Feed
NGX Loses N5.42 Trillion in 20-Day Market Correction
NGX Loses N5.42 Trillion in 20-Day Market Correction
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
