NGX Market Wrap 24-06-2026 | Plus234Feed
The Nigerian Exchange closed at 235,006.27 points on Wednesday as sentiment remained divided, with small-cap rallies offset by sharp declines in heavyweight cement stocks. BUACEMENT and DANGCEM both fell 10.00%, dragging broader market sentiment despite strong activity in mid-cap equities.
Wednesday's trading session painted a picture of a market struggling to find unified direction, with robust activity failing to translate into decisive momentum. The ASI settled at 235,006.27 points as investors rotated between opportunities, evidenced by 45,782 total deals worth ₦20.6 billion.
The session's standout feature was the sharp disconnect between small-cap enthusiasm and large-cap weakness. TAJSUKS2 led gainers with an 11.08% surge, adding ₦9.97 to close at ₦99.98, while SKYAVN climbed 9.92% (₦15.45 gain to ₦171.20). This strength in secondary stocks suggests retail investors were hunting bargains in less-capitalised equities.
However, this optimism was severely dampened by cement sector capitulation. BUACEMENT and DANGCEM both tumbled exactly 10.00%—BUACEMENT losing ₦37.80 to ₦340.20, while DANGCEM surrendered ₦107.00 to close at ₦963.00. GEREGU matched this decline, falling ₦101.90 to ₦917.40. The uniformity of these losses suggests sector-wide pressure rather than company-specific headwinds, possibly reflecting margin concerns or broader economic sentiment.
Liquidity remained adequate, with FIRSTHOLDCO dominating volume at 57.4 million shares, followed by CHAMS and ACCESSCORP. The financials sector's strength in the most-traded list—FIDELITYBK posted 21.8 million shares—indicates institutional engagement despite mixed price action.
Market capitalisation held steady at ₦150.8 trillion, suggesting losses were contained. Investors should monitor whether cement weakness extends into Thursday's session or represents a healthy profit-taking opportunity.
