Snapshot
The Nigerian bourse closed mid-week trading bearish on Wednesday, June 17, 2026, extending the market’s losses for the fourth consecutive trading session, as sustained profit-taking in selected large- and mid-cap stocks continued to outweigh buying interest across the market.
The benchmark NGX All-Share Index (ASI) decreased by 0.49% to close at 240,802.72 points, down from 241,984.80 points recorded in the previous session. As a result, investors lost N758.16bn in market value, while the market’s year-to-date (YTD) return weakened to 54.74%.
The bearish sentiment was driven by sell-offs in fundamentally strong stocks like GEREGU (-10.00%), OKOMUOIL (-9.97%), REDSTAREX (-9.95%), IMG (-9.31%), TIP (-7.35%), IKEJAHOTEL (-6.01%), MAYBAKER (-5.99%), TRANSCORP (-4.65%), NGXGROUP (-4.44%), FIRSTHOLDCO (-3.97%), STANBIC (-3.08%), WEMABANK (-2.91%), ACCESSCORP (-1.88%), CONOIL (-1.41%), ZENITHBANK (-0.83%), UBA (-0.48%), and 35 others.
Following the market’s negative close, investor sentiment remains bearish, with 51 stocks recording losses against 13 gainers, reflecting sell-offs in selected counters. NEIMETH topped the gainers’ chart, while GEREGU led the decliners, and trades below its 52-week low (N1,132.50) at N1,019.00.
The Proshare Memorandum Indexes also closed bearish, with the market cap-weighted index down 0.64% to 1,450.08 points from 1,459.36 points in the previous session, while the total return float-adjusted index decreased 0.97% to 978.64 points from 988.23 points.
Volume and Value Contribution
Market activity was up for the day, as total volume traded advanced 23.79% to 662.96m, valued at N39.98bn across 51,143 deals. ACCESSCORP recorded the highest volume with 130.26m units traded, accounting for 19.65% of the day’s volume, while MTNN recorded the highest value at N8.19bn, accounting for 20.48% of the value traded for the day. JAIZBANK and STERLINGNG accounted for 17.33% and 4.69% of the total volume, respectively, while ARADEL and GEREGU followed MTNN in traded value.
NGX Earnings Summary
Corporate Results
NGX Corporate News
For more analysis of the NGX-listed equities, click here.
1.2 NASD OTC Exchange – Unlisted Equities
Conversely, the unlisted NASD Securities Index (NSI) closed bullish today, up 1.04% to 4,378.45 points from 4,333.35 points on Tuesday.
The total volume traded advanced to 2.79m valued at N128.27m, across 33 deals.
At the close of trading, the NASD OTC recorded two (2) gainers and three (3) losers.
1.3 Global Indices
The global indices closed higher on Wednesday, with Japan’s Nikkei 225 leading the gainers’ chart with 69,902.25 index points. For more updates on the global scene, click here.
1.4 African Indices
The prices in the African market were relatively favourable today. For the latest data and updates, please click here.
2. Bonds and Fixed-Income Markets
2.1 Debt Market Size
The Debt Market Size was unavailable at the time of publishing this report.
2.2 Overnight and Open Repo (OPR)
The Overnight and Open Repo rates were unavailable while preparing the report.
3.1 AFEX Indices
The AFEX Indices were not available at the time of filing the report. Data on AFEX Indices can be accessed here.
3.2 AFEX Commodity Prices
The AFEX Commodity market on Wednesday was mostly bearish, with Paddy rice, soybeans, and maize declining by 7.16%, 4.98%, and 0.17%, respectively, to close at N356.50, N707.00, and N332.61. Click here to access more data on AFEX commodity prices.
3.3 LCFE Commodity Price(s)
Eko Gold, Premium Eko Rice, and Eko Rice Classic prices at the Lagos Commodities and Futures Exchange (LCFE) remained unchanged on Wednesday, closing at N140,000.00 per gram, N47,000.00 per 50kg, and N55,000 per 50kg, respectively.
3.4 Global Commodity Prices
In the global commodity market, Gold and Silver advanced by 0.28% and 0.73%, respectively, to close at US$4,346.87 and US$70.44. Brent and WTI crude futures increased by 2.15% and 2.45%, respectively, to close at US$80.66 and US$77.91 as of 03:09 PM GMT on Wednesday after U.S. President Donald Trump threatened to resume bombing Iran if it didn’t “behave”, but remained near three-month lows as the International Energy Agency warned of excess supply next year.
The average BDC rate closed flat at N1,395/USD, while the NFEM rate also depreciated by 0.21% to N1,360.08/USD from N1,357.18/USD. For updates on the Nigerian FX Market, kindly click here.
Disclaimer
This Daily Market Report (DMR) is prepared based on research, market information, and data gathered and analysed with the best global practices. It is provided for informational and educational purposes only.
It does not constitute investment advice, a recommendation to buy or sell any security, or an offer to solicit any transaction. Nothing herein shall create a client-advisor relationship between the reader and our Firm, its analysts, or any associated companies.
You should not construe any of this information as a substitute for investment financial advice. We are not registered investment advisors, and you should consult a qualified financial adviser before making any investment or trading decision. See our Terms of Use.
Proshare Nigeria Limited is an independent capital market intelligence and financial research platform.
Click on the links here for updates on Market | Stock Picks, Economy | Opinions and Analysis, Finance | Personal Tax, Economy | Taxes & Tariffs, Personal Tax, Bonds & Fixed Income, Global Markets, Mergers & Acquisitions, Regulators | Regulators, Pensions n Retirement, Trade Investment, Reviews & Outlooks, Global Markets, and World Bank IMF and Dev Agencies.
Subscribe to our market intelligence notes for updates. Thank you.
Leave a comment