June 03, (THEWILL) — The Nigerian equities market extended its bearish streak on Wednesday as widespread selloffs across major stocks dragged key market indicators lower, wiping ₦2.28 trillion off investors’ wealth.
Market capitalisation declined from ₦158.219 trillion at the opening of trading to ₦155.939 trillion at the close, while the NGX All-Share Index (ASI) shed 3,554.05 points to settle at 243,132.61, compared with 246,686.66 recorded in the previous session.
Investor sentiment remained weak, with market breadth closing firmly in negative territory as 44 stocks declined against 15 gainers.
Top Gainers
• ABBEYBDS gained 9.93 percent, (rising from ₦7.05 to ₦7.75).
• INTENEGINS advanced by 9.89 percent (from ₦5.46 to ₦6.00).
• TRIPPLEG appreciated by 9.80 percent, (climbing from ₦3.98 to ₦4.37).
• UNIVINSURE rose by 8.91 percent (from ₦1.01 to ₦1.10).
• ROYALEX added 7.14 percent, (increasing from ₦1.40 to ₦1.50).
Top Decliners
• WAPCO fell by 9.97 percent, (declining from ₦342.00 to ₦307.90).
• ZICHIS shed 9.82 percent, (dropping from ₦32.38 to ₦29.20).
• LEARNAFRCA lost 9.80 percent, (closing at ₦11.50 from ₦12.75).
• JOHNHOLT depreciated by 9.80 percent, (falling from ₦15.30 to ₦13.80).
• CONHALLPLC declined by 8.84 percent (from ₦6.79 to ₦6.19).
Meanwhile, Dangote Cement, Presco Oil, Custodian Investment, Julius Berger, BUA Foods, and Golden Guinea Brewery were among the stocks that closed flat during the session.
The sharp decline recorded during the session reflects heightened profit-taking and cautious investor positioning across the market.
The dominance of decliners over gainers suggests risk aversion remains elevated, particularly in consumer goods and industrial stocks.
Market participants are expected to continue monitoring valuation opportunities in fundamentally strong counters, although near-term sentiment may remain subdued amid persistent volatility and broad-based selling pressure.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
