NGX Index Sheds 0.07% as Thomas Wyatt Emerges Worst-Performing Stock

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited was down by 0.07 per cent on Wednesday on the back of continued sell-offs by investors, who are cautious of happenings in the political arena.

Nigeria is set for the polls next January, and President Bola Tinubu is seeking a re-election, saying his policies, which some citizens believe are harsh because they put them under economic pressure, are already yielding positive results.

At his Independence Day speech on October 1, 2026, he said, “Nigeria has corrected its course. We have passed through our own Red Sea.

“The Promised Land before us is a Nigeria of abundance and opportunity; a nation where prosperity is broadly shared, where every child can dream beyond the circumstances of his birth, and where our country’s immense promise is finally reflected in the lives of our people.”

But investors are treading cautiously, resulting in profit-taking in three of the five major sectors of Customs Street, with the banking index down by 0.36 per cent. The energy sector declined by 0.09 per cent, and the consumer goods space lost 0.08 per cent. However, the insurance segment grew by 0.03 per cent, and the industrial goods counter closed flat.

The All-Share Index (ASI) tumbled by 176.75 points to 250,096.75 points from 250,273.50 points, and the market capitalisation slipped by N110 billion to N162.386 trillion from N162.496 trillion.

Thomas Wyatt was the worst-performing stock for the trading session after it shed 9.74 per cent to close at N2.41. Sovereign Trust Insurance declined by 7.60 per cent to N2.31, Livingtrust Mortgage Bank contracted by 7.25 per cent to N3.20, Neimeth crashed by 4.61 per cent to N7.25, and Veritas Kapital shrank by 4.42 per cent to N1.08.

Conversely, Tripple Gee ended the day as the best-performing stock after it chalked up 9.96 per cent to trade at N3.09. CMFC gained 9.86 per cent to quote at N4.01, Champion Breweries improved by 9.50 per cent to N10.95, Coronation Insurance rose by 9.24 per cent to N2.60, and Multi-Trex Integrated Foods appreciated by 8.33 per cent to 39 Kobo.

Investor sentiment remained weak, as the bourse ended with 23 price gainers and 30 price losers, showing a negative market breadth index.

A total of 447.0 million shares worth N23.0 billion exchanged hands in 38,905 deals yesterday versus the 579.3 million shares valued at N36.1 billion traded in 41,072 deals a day earlier, implying a fall in the trading volume, value, and number of deals by 22.84 per cent, 36.29 per cent, and 5.28 per cent, respectively.

Unlike the previous session, Zenith Bank led the activity chart after trading 34.9 million equities for N4.7 billion. CMFC transacted 32.8 million stocks worth N125.6 million, Access Holdings exchanged 25.3 million shares valued at N758.4 million, Multi-Trex Integrated Foods sold 24.4 million equities for N9.5 million, and Sovereign Trust Insurance traded 24.4 million stocks worth N61.7 million.