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The bearish mood persisted on the Nigerian Exchange (NGX) on Wednesday as investors lost N693 billion amid fading enthusiasm over third-quarter 2025 earnings. The downturn marked the third consecutive session of losses, driven by weak sentiment toward risky assets and profit-taking in overbought stocks. The All-Share Index (ASI) dropped by 1,092.24 basis points to close at 154,260.96 points, while market capitalisation fell by N693.28 billion to N97.91 trillion. The sell-offs were largely driven by profit-taking in previously appreciated mid and large-cap stocks such as Beta Glass, Aradel Holdings, and Guinness Nigeria, among others. Market breadth closed negative, with 19 gainers against 46 losers. On the gainers’ table, Deap Capital Management and Trust led with a 9.70 per cent increase, trailed by Aso Savings and Loans with 8.86 per cent, McNichols, 6.67 per cent; Caverton Offshore Support Group, 6.14 per cent; Okomu Oil Palm, 5.90 per cent; and Unilever Nigeria, 4.05 per cent. Conversely, Beta Glass and John Holt topped the losers’ chart, shedding 10.00 per cent each. Other major decliners included Ikeja Hotel, down by 8.68 per cent; Eunisell, 8.53 per cent; Aradel Holdings, 7.94 per cent; Guinness Nigeria, 5.31 per cent; and Wema Bank, which dipped by 4.76 per cent. Sectoral performance was broadly weak. The Oil and Gas sector led losses with a 3.68 per cent decline, followed by Insurance, 2.45 per cent; Industrial Goods, 1.57 per cent; Banking, 0.35 per cent; and Consumer Goods, 0.24 per cent. Market activity weakened further, with total traded volume and value dropping by 15.52 per cent and 43.85 per cent, respectively. Investors exchanged 443.88 million shares worth N14.26 billion in 27,384 deals. In terms of volume, Tantalizer topped the activity chart, accounting for 12.55 per cent of total trades, followed by Sovereign Insurance with 10.20 per cent, Access Holdings, 8.55 per cent; Guaranty Trust Holding Company (GTCO), 7.51 per cent; and Zenith Bank, 3.76 per cent. GTCO also emerged as the most traded stock by value, representing 20.78 per cent of the total turnover. ALSO READ TOP STORIES FROM NIGERIAN TRIBUNE
