Okomu Oil Plunges 10%, Wipes N127.60 Off Share Price in One Session

Okomu Oil Palm Plc plunged 10% on Wednesday to steer decliners on the Nigerian Exchange (NGX), wiping N127.60 off its share worth in a single buying and selling session.

The agricultural firm’s share worth dropped from N1,276.20 to N1,148.60 on November 11, 2026, representing the utmost 10% decline recorded through the session.

The sharp fall positioned Okomu Oil on the prime of the losers’ desk as promoting stress weighed on chosen shares and dragged the broader equities market decrease for a second consecutive buying and selling session.

At N127.60 per share, Okomu Oil additionally recorded by far the most important nominal worth decline amongst Wednesday’s 5 greatest losers.

Enamelware adopted with a 9.96% decline from N36.65 to N33, whereas NASCON Allied Industries dropped 8.99% from N183.50 to N167.

FTN Cocoa Processors declined 8.36% to N6.80 from N7.42, whereas Lotus Halal Equity ETF accomplished the 5 greatest decliners after falling 6.88% from N130.99 to N121.98.

Okomu Oil’s decline got here because the Nigerian equities market struggled to maintain the sturdy restoration recorded at the start of the week.

The NGX All-Share Index declined 0.18% to 251,861.24 on Wednesday after slipping 0.06% within the earlier session.

Equity market capitalisation additionally fell by roughly N293.43 billion to N163.531 trillion from N163.825 trillion on Tuesday.

Trading exercise weakened alongside the market decline with whole transaction worth falling 24.9% to N22.83 billion from N30.39 billion within the earlier session.

Trading quantity dropped 23.3% to 418.35 million shares from 545.30 million shares, whereas the variety of offers declined barely to 30,908.

Okomu Oil’s 10% decline subsequently got here towards a backdrop of weaker market participation and renewed stress on the benchmark index.

At Wednesday’s closing worth of N1,148.60, the inventory would want to realize about 11.1% to return to its earlier closing stage of N1,276.20.