Profit-Taking Wipes N259.77bn Off NGX as ASI Slips 0.17 Per Cent

  Sustained profit-taking on the Nigerian Exchange on Wednesday cut N259.77 billion from investors’ wealth, as the All-Share Index fell 0.17 per cent to 238,682.92 points. Market capitalisation closed at N154.14 trillion, down from N154.40 trillion in the previous session. The decline extended the month-to-date loss to about 2.7 per cent, while the year-to-date return remained a strong 53.38 per cent. Market breadth was negative. Forty-one stocks declined against 17 gainers, a ratio of about 0.4 times, pointing to weak sentiment after the market’s first-half and early third-quarter rally. Selling was concentrated in banking, consumer and industrial names. Zenith Bank fell 2.1 per cent and Jaiz Bank 7.7 per cent. Fidson Healthcare dropped 10 per cent and Oando 3 per cent. Fidson Healthcare and FTN Cocoa led the losers, down 10 per cent and 9.9 per cent respectively. International Energy Insurance, Livestock Feeds and Omatek were also among the major decliners. Neimeth International Pharmaceuticals led the gainers, rising 9.7 per cent. NEM Insurance advanced 6.7 per cent, with notable gains also recorded by Regency Alliance Insurance, Linkage Assurance and UPDC Real Estate Investment Trust. Four of the five major sector indices closed lower. Insurance fell 0.94 per cent, Banking 0.41 per cent, Consumer Goods 0.28 per cent and Oil and Gas 0.11 per cent. Industrial Goods closed flat. Trading activity increased despite the price weakness. Volume rose 9.7 per cent to 733.35 million shares, while turnover jumped 44.9 per cent to N34.52 billion. Deals increased 7.23 per cent to 49,210. Fortis Global Insurance was the most active stock by volume, with 134.01 million shares changing hands. First HoldCo led by value, with transactions worth N11.06 billion. The session formed part of a broader pullback after a strong year. The All-Share Index had climbed from about 74,800 points at the end of 2023 to record levels above 248,000 points earlier in August 2026, before profit-taking set in. Market observers generally expect near-term pressure to persist as investors lock in gains, though the year-to-date advance remains substantial.