The Nigerian stock market continued its decline on March 5, 2025, as the overall capitalization dropped by N289 billion, reflecting a persistent bearish trend. The All-Share Index fell by 467.77 points, or 0.44%, closing at 106,436.48 points. This loss brought the total market capitalization down to N66.653 trillion, further emphasizing the ongoing negative performance in the market.
This downturn was largely driven by significant price depreciation in major stocks such as Transnational Corporation (Transcorp), Eterna, Africa Prudential, Okomu Oil, and Nigerian Breweries. Afrinvest Limited projected that the market would likely continue its bearish trend due to the absence of positive catalysts to stimulate a reversal, further dampening investor sentiment.
The market breadth closed negative with only 12 stocks advancing compared to 43 stocks that declined. Notable gainers included Tantalizer, Champion Breweries, and CWG, which saw notable price increases. In contrast, stocks like Caverton Offshore Support Group, Consolidated Hallmark Holdings, and Eterna experienced sharp losses, leading the decline on the stock exchange.
Meanwhile, market activity saw a slight dip in trading volume, which decreased by 1.49% to 389.574 million units, valued at N11.309 billion across 11,423 transactions. The most actively traded shares included those of Fidelity Bank, Access Holdings, and United Bank for Africa (UBA), which topped the trading charts for the day. Despite the downturn, these stocks maintained substantial trading volumes.
SOURCE: LEADERSHIP