NGX Falls 0.17% Despite Gains by Neimeth, NEM Insurance
- The NGX fell for a second session on Wednesday, with the All-Share Index shedding 402 points amid sustained selling pressure
- Insurance, banking, consumer goods, and energy sectors all recorded losses, dragging market capitalisation down by N260 billion
- Fidson and FTN Cocoa were among the hardest-hit stocks, while Neimeth and NEM Insurance bucked the trend with notable gains
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Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian Exchange (NGX) Limited remained in negative territory on Wednesday, August 26, as the equities market depreciated by 0.17% amid continued profit-taking by investors.
The Nigerian equities market resumed trading after a one-day break to observe the public holiday declared by the federal government on Tuesday.
Source: Getty Images
At midweek, the All-Share Index (ASI) fell by 402.25 points to 238,682.92 points from 239,085.17 points, while market capitalisation declined by N260 billion to N154.137 trillion from N154.397 trillion.
Sector performance
According to market data, the decline was driven by selling pressure across major sectors of the market.
- The NGX Insurance Index declined by 0.94%.
- The NGX Banking Index fell by 0.41%.
- The NGX Consumer Goods Index dropped by 0.28%.
- The NGX Oil & Gas Index declined by 0.11%.
- The NGX Industrial Goods Index was flat.
Top losers
- Fidson crashed by 9.99% to N84.20.
- FTN Cocoa tumbled by 9.94% to N7.79.
- International Energy Insurance dropped by 9.74% to N3.15.
- Livestock Feeds dipped by 9.43% to N7.20.
- Omatek lost 9.42% to close at N1.25.
Top gainers
- Neimeth expanded by 9.66% to N7.95.
- NEM Insurance improved by 6.67% to N32.00.
- Regency Alliance rose by 6.25% to 85 kobo.
- Linkage Assurance gained 5.62% to close at N1.88.
- UPDC REIT grew by 2.88% to 40 kobo.
The market breadth remained negative, with 17 stocks recording price gains compared with 41 decliners, indicating weak investor sentiment.
Source: Getty Images
Most active stocks
Fortis Global Insurance led the activity chart with 134.0 million shares worth N268.0 million.
First Holdco traded 88.9 million shares valued at N11.1 billion, while Access Holdings exchanged 32.7 million shares worth N910.5 million.
Zenith Bank traded 30.9 million shares valued at N3.7 billion, while Veritas Kapital transacted 28.6 million shares worth N34.1 million.
At the close of business, investors traded 733.4 million shares worth N34.5 billion in 49,210 deals, compared with 668.7 million shares valued at N23.8 billion in 45,894 deals in the previous session.
The figures showed that trading volume increased by 9.68%, trading value rose by 44.96%, while the number of deals advanced by 7.23%.
Otedola buys new mansion
Femi Otedola has expanded his international real estate portfolio with the acquisition of a N98 billion (£53 million) mansion in London, adding another high-value property to his growing list of luxury assets.
The 10-bedroom property is located in the prestigious St John’s Wood district, a short distance from Regent’s Park, according to UK property records. The area is regarded as one of London’s most exclusive residential neighbourhoods.
Bloomberg reports that Otedola acquired the lavish property in late 2025, with the purchase further highlighting the billionaire businessman’s significant investments in premium real estate outside Nigeria.
Source: Legit.ng
