Equities Close in the Red, Investors’ Wealth Drops by Over N351bn

• The Nigerian stock market closed lower on Wednesday as sustained sell pressure pushed the NGX All-Share Index down by 0.33
• After trading Union Homes REIT led the gainers, while RT Briscoe, May & Baker, and Ikeja Hotel topped the losers’ chart
• Investors traded 623.12 million shares worth N16.51 billion across 42,119 deals during the session

Legit.ng journalist Dave Ibemere has strong business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigerian stock market closed lower on Wednesday, January 28 as sustained sell pressure dragged key indices into negative territory.

At the close of trading, the NGX All-Share Index (ASI) fell by 0.33% or 549.44 points, while market capitalisation settled at N105.7 trillion, reflecting cautious investor sentiment despite improved trading activity.

Data showed that a total of 623.12 million shares valued at N16.51 billion were exchanged in 42,119 deals during the session.

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Compared with the previous trading day, trading volume rose by 29%, although turnover declined by 5%, while the number of deals increased by 2%.

Market breadth closed negative, with 38 equities declining against 32 gainers out of the 130 stocks that participated in trading

Top gainers

• Union Homes Real Estate Investment Trust led the gainers’ chart, rising by 9.97% to close at N94.85 per share.
• Deap Capital Management and Trust followed with a gain of 9.97%.
• Tantalizers advanced by 9.92%.
• Skyway Aviation Handling Company appreciated by 9.91%.
• Lotus Halal 15 gained 10.00% to close at N110.02 per unit.

Top losers

• RT Briscoe topped the losers’ chart after shedding 9.97% to close at N6.50 per share.
• May & Baker Nigeria declined by 9.96%.
• Ikeja Hotel dropped by 9.92%.
• LivingTrust Mortgage Bank depreciated by 9.90%.
• eTranzact International fell by 9.16%.

Most active stocks

• Neimeth International Pharmaceuticals recorded the highest trading volume with 58.13 million shares exchanged.
• Chams followed with 39.51 million shares.
• Access Holdings traded 33.36 million shares.
• Zenith Bank exchanged 32.42 million shares.
• Tantalizers recorded 29.24 million shares.

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Positive sentiment lifts stock market higher as market cap rises to N106.09trn

Market outlook

Analysts at Vetiva Research said the equities market appears to be entering a consolidation phase as investors assess recent volatility.

The analysts said:

“The local bourse appears to be entering a consolidation phase as investors digest the volatility of the past few sessions. Friday's marginal gain suggests that buyers are beginning to find support levels, particularly in sectors that were oversold earlier in the week.

"However, the drop in turnover value indicates that institutional participation remains measured, with many participants likely staying on the sidelines until a clearer trend emerges.”

16 banks meet CBN's capital requirement

Earlier, Legit.ng reported that with about 100 days left until the March 31, 2026 deadline for Nigeria’s banking sector recapitalisation, banks are working against time to meet the CBN’s minimum requirements.

There are suggestions that several banks could be forced to close if they are unable to meet the deadline.

The recapitalisation drive has also triggered strategic realignments.

Source: Legit.ng