The Nigerian equities market slipped by 0.30 percent on Wednesday, following a positive close earlier in the week. Stocks like UBA, Oando, Nascon, Thomas Wyatt, and Lasaco contributed to the market’s pullback, which lowered the year-to-date return to +29.15 percent.
The market has now recorded two consecutive days of losses against a single day of gains this week.
UBA’s share price led the decline, dropping from N35.05 to N31.55—a loss of N3.50 or 9.99 percent. Oando also saw a significant dip, with its share price falling from N72.65 to N65.40, shedding N7.25 or 9.98 percent. Lasaco joined the list of top decliners, losing 18 kobo or 7.50 percent as its price dropped from N2.40 to N2.22.
By the close of trading, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) had decreased from the previous day’s high of 97,123.61 points to 96,567.24 points, while Market Capitalisation fell from N58.851 trillion to N58.514 trillion.
In total, 418.39 million shares valued at N10.041 billion were exchanged across 9,021 deals on Wednesday. Among the actively traded stocks were Sterling Financial Holdings Company, UBA, Access Holdings, Jaiz Bank, and Veritas Kapital Assurance.
