The Nigerian equities market experienced a slight downturn on Wednesday, March 12, 2025, with stocks shedding N48 billion in market capitalisation. The market closed down by 0.07%, continuing the trend of subdued activity as investor sentiment remains cautious. Despite some activity in certain stocks, overall trading remained muted as investors refrained from making bold moves amidst ongoing market uncertainty.
Notable decliners included stocks such as Conoil, Berger Paints, and International Energy Insurance. Conoil recorded the biggest loss, falling 10% from N368 to N331.20, while Berger Paints and International Energy Insurance also saw significant drops of 9.81% and 9.79%, respectively. Other companies such as Multiverse Mining & Exploration and Regency Assurance also faced downward pressure, contributing to the overall negative performance of the market.
Analysts at Vetiva Research have noted that the cautious mood among investors is likely to continue, with selective buying of fundamentally strong stocks anticipated. However, they warned that intermittent profit-taking could persist, keeping the market volatile and uncertain. The analysts’ outlook suggests that cautious trading will define the market in the short term, with no immediate signs of a major recovery.
In total, 1,498,849,693 shares were traded in 11,748 deals, valued at N10.259 billion. Zenith Bank, Jaiz Bank, and United Capital were among the most actively traded stocks during the session. Despite the decline, the market remains under close observation as investors look for signs of stability or further downturns in the coming weeks.
SOURCE: BUSINESS DAY