Nigerian Equities Market Decline Deepens as Investors Lose N371bn Amid Profit-Taking

The Nigerian equities market extended its losing streak for the fourth straight session on Thursday, as investors’ appetite for risk continued to weaken amid profit-taking and portfolio realignments. The sustained bearish momentum dragged overall market performance further into negative territory, reflecting cautious sentiment among traders reacting to mixed corporate earnings and year-end repositioning.

At the close of trading, the All-Share Index (ASI) fell by 584.32 points, representing a 0.38 per cent decline, to settle at 153,676.66 points. Market capitalisation also slipped by N371 billion, closing at N97.54 trillion. The drop was largely influenced by sell-offs in key medium- and large-cap stocks such as Aradel Holdings, NAHCO, Cadbury Nigeria, UACN, and Lafarge Africa.

Market analysts at Imperial Asset Managers Limited said the mixed performance could persist in the coming sessions, as investors continue to book profits on recently appreciated stocks while selectively buying into fundamentally strong companies. “We expect the market to trade mixed as investors react to Q3 earnings and prepare for year-end portfolio adjustments,” the firm stated in its outlook.

The session recorded a bearish market breadth, with 39 losers outpacing 20 gainers. Among top performers, Oando Plc led with a 10 per cent gain to close at N46.80 per share, followed by Aso Savings & Loans (up 9.3%) and AIICO Insurance (up 5.26%). Other notable gainers included May & Baker Nigeria and Deap Capital Management & Trust, which appreciated by 5.00 per cent and 4.97 per cent, respectively.

On the flip side, Cadbury Nigeria, Chams Holding Company, and International Breweries were the worst performers, shedding 10 per cent each. Learn Africa fell by 9.92 per cent, while NAHCO lost 9.49 per cent to close at N113.00 per share. Meanwhile, trading volume surged by 75.73 per cent to 795.86 million units, valued at N35.11 billion, across 28,944 deals. Wema Bank topped activity with 305.73 million shares, followed by GTCO, Aso Savings & Loans, and AIICO Insurance.

source: Leadership