Nigerian Stock Market Slips to N88.9tn Amid Bearish Trading, Investors Lose N438bn

The Nigerian Exchange closed in the red on Thursday as bearish trading wiped off N438 billion from investors’ wealth, pushing the equities market capitalisation down to N88.9 trillion. The All-Share Index (ASI) dropped 691.52 points, or 0.49 per cent, to close at 140,557.24 points, compared with 141,248.76 points recorded in the previous session. Despite this setback, the market’s year-to-date growth remains strong at 36.56 per cent.

Trading activity surged as investors exchanged 884.96 million shares valued at N28.25 billion across 26,129 deals, reflecting a 30 per cent rise in volume and a 27 per cent increase in value. However, the number of deals fell by nine per cent compared with Wednesday’s session, signaling heightened but selective market participation.

Among the 129 equities traded, 19 stocks gained while 39 declined. SCOA Nigeria led the gainers with a 10 per cent increase to N6.05 per share, followed by RT Briscoe, which rose 9.8 per cent to N3.36. N.E.M Insurance and Nigerian Exchange Group also posted notable gains, climbing 7.96 per cent and 7.94 per cent, respectively. Conversely, International Energy Insurance suffered the steepest loss, falling 9.62 per cent to N3.29, while Omatek Ventures, Ellah Lakes, and Royal Exchange recorded declines between 6.98 and 8.97 per cent.

In terms of trading volume, Champion Breweries led with 201.05 million shares worth N3.47 billion, followed by Access Holdings with 102.18 million shares valued at N2.76 billion. Guaranty Trust Holding Company emerged as the most traded stock by value, exchanging 96.45 million shares worth N8.89 billion, while Sterling Bank and FBN Holdings recorded high-volume trades.

Sectoral performance was largely negative, with the Premium, Industrial, and Main Board indices losing between 0.44 and 0.53 per cent. The Insurance Index stood out, gaining 0.44 per cent and extending its one-week rise to 7.62 per cent and year-to-date return to 81.56 per cent. Analysts attributed Thursday’s bearish run to profit-taking in large-cap stocks and sustained sell-offs across key sectors, highlighting cautious investor sentiment amid mixed market signals.

Source: Punch