Lagos, Nigeria – Nigeria’s equities market posted a 0.30% decline on Wednesday, following a positive close on Tuesday. Key decliners included UBA, Oando, Nascon, Thomas Wyatt, and Lasaco, which contributed to the overall dip.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) fell to 96,567.24 points from 97,123.61 points, while market capitalization dropped to N58.514 trillion from N58.851 trillion. Year-to-date returns have now moderated to +29.15%, following two consecutive days of negative performance.
UBA, one of the day’s biggest laggards, saw its share price decrease by 9.99%, falling from N35.05 to N31.55. Oando followed with a 9.98% drop, closing at N65.40, down from N72.65. Other notable decliners included Thomas Wyatt (-9.79%), Nascon (-7.83%), and Lasaco (-7.50%).
Despite the downturn, 418 million shares worth N10.04 billion were traded across 9,021 deals, with stocks such as Sterling Financial Holdings, UBA, Access Holdings, Jaiz Bank, and Veritas Kapital Assurance seeing active trading.