Stock market sheds N2.28trn on profit-taking
Lagos, June 2026 (TBL Africa) The Nigerian stock market closed on a bearish note on Wednesday as investors lost N2.280 trillion in market value.
Continued profit-taking in large- and mid-capitalised stocks such as WAPCO, Zichis Agro-Allied Industries, Learn Africa, John Holt, and Consolidated Hallmark Insurance, alongside declines in 39 other stocks, dragged the equities market into negative territory.
Market capitalisation declined by N2.280 trillion, or 1.44 per cent, to close at N155.939 trillion from N158.219 trillion recorded in the previous session.
Similarly, the All-Share Index fell by 3,554.05 points, or 1.44 per cent, to 243,132.61 from 246,686.66 posted on Tuesday.
While the market’s Year-to-Date (YTD) return moderated to 56.24 per cent, the market breadth closed negatively as well, recording 44 losers against 15 gainers.
WAPCO led the losers’ chart by 9.97 per cent, closing at N307.90, Zichis Agro Allied Industries trailed by 9.82 per cent, settling at N29.20 while John Holt and Lafarge dipped by 9.80 per cent each, ending the session at N13.80 and N11.50 per share respectively.
Similarly, Consolidated Hallmark lost by 8.84 per cent, finishing at N6.19 per share.
On the other hand, Abbey Mortgage Bank led the gainers’ chart by 9.93 per cent, settling at N7.75, International Energy Insurance followed by 9.89 per cent, finishing at N6 and Triple Gee gained by 9.80 per cent, closing at N4.37 per share.
Also, Universal Insurance advanced by 8.91 per cent, ending the session at N1.10 while Royal Exchange increased by 7.14 per cent, closing at N1.50 per share.
Meanwhile, market activity improved during the trading session, with total volume traded rising by 28.42 per cent to 922.97 million shares valued at N42.27 billion across 69,332 transactions.
Sterling Nigeria led the volume chart with 264.59 million shares, accounting for 28.67 per cent of total volume traded.
MTN Nigeria topped the value chart with transactions worth N17.61 billion, representing 41.67 per cent of the day’s total turnover.
Reacting to the market downturn, Vice President of Highcap Securities, Mr David Adonri, said the market had entered a bearish phase due to the absence of major price-sensitive information capable of driving investor interest.
According to him, key market-moving events such as the release of full-year earnings and dividend distributions have been concluded, leaving investors with little incentive to take fresh positions.
“We are entering a bearish market now. There is no price-sensitive information or disclosure capable of causing the market to rise.
“The full-year earnings announcements and dividend payments have already taken place,” he said.
Adonri noted that the market usually slows from the end of April and regains momentum around August when companies begin to release half-year results and declare interim dividends.
He explained that investors might also be selling equities to raise funds ahead of the anticipated listing of Dangote Refinery and Petrochemicals, which he described as a major factor behind the current market trend.
He dismissed insinuations that the recently introduced T+1 settlement cycle contributed to the market decline, noting that weakening demand had become evident before its implementation.
