Nigerian stocks plummet, with investors losing N1.6 trillion in one session

The Nigerian equities market recorded a sharp downturn on Wednesday as investors’ wealth dropped by about N1.6 trillion following widespread selloffs across major blue-chip and mid-cap stocks.

The decline reversed a recent bullish run, with market capitalisation falling by 1.02 per cent to N159.66 trillion, down from N161.28 trillion in the previous trading session, according to market data.

The All-Share Index also mirrored the slump, shedding 2,573.05 points to close at 249,062.37, compared with 251,635.42 previously, reflecting broad-based weakness in investor sentiment.

Key stocks such as BUA Cement, International Breweries, and E-Tranzact International were among the biggest draggers on the market, alongside CAP and Deap Capital Management.

Despite the overall decline, market breadth remained positive, with 41 gainers against 25 losers. Stocks like Zichis Agro Allied Industries and ABC Transport led the gainers’ chart, each rising by 9.99 per cent.

Ja Paul Gold, Livingtrust Mortgage Bank, and FTN Cocoa Processors also posted strong gains, each nearing the daily price limit.

On the losers’ side, BUA Cement dropped by 10 per cent, while CAP and E-Tranzact International followed with significant losses, alongside International Breweries and Deap Capital Management.

Trading activity also weakened, as volume fell by 14.74 per cent to 600.22 million shares valued at N32.72 billion across nearly 59,000 deals. Access Bank led in trading volume, while Zenith Bank dominated in value terms with N4.81 billion worth of transactions.

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Market analysts attributed the decline largely to profit-taking, especially in oil and gas-related equities, after earlier gains driven by geopolitical tensions around global crude supply routes.

They noted that easing concerns over supply disruptions, alongside diplomatic developments involving major global powers, reduced risk appetite and triggered a pullback in energy-linked stocks.

However, analysts pointed out that despite the overall market downturn, some stocks such as Seplat Energy continued to hold gains, reflecting sustained investor confidence in select energy assets.

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