NGX Market Capitalisation Falls to N153.86tn as Heavy Selloffs Hit Blue-Chip Stocks

The Nigerian equities market closed lower on Thursday as sustained selloffs in major listed companies wiped out about N1.922 trillion in market value. This decline dragged the total market capitalisation down to N153.859 trillion, reflecting a cautious and profit-taking mood among investors. The downturn was largely driven by exits from high-value industrial and consumer stocks.

According to market data from the Nigerian Exchange Limited, the benchmark All-Share Index fell by 2,994.90 points, or 1.23 per cent, to settle at 239,734.61 points. The decline was heavily influenced by price drops in major blue-chip stocks, including cement and consumer goods companies such as Dangote Cement and Nestlé Nigeria, alongside other industrial names.

Despite the overall negative performance, market breadth remained slightly positive, with 41 gainers outpacing 30 losers. This suggests continued investor interest in mid- and small-cap stocks even as heavyweight equities faced strong selling pressure. Analysts say this reflects a rotation strategy rather than a broad market exit.

On the gainers’ chart, Chemical and Allied Products and FTN Cocoa Processors recorded the maximum daily increase of 9.99 per cent each, while Berger Paints, Meyer, and Zichis Agro Allied Industry also posted strong gains. However, on the losers’ side, stocks like University Press and Skyway Aviation Handling Company saw sharp declines, weighing on sentiment.

Trading activity increased significantly, with volume rising by 29.34 per cent to 1.83 billion shares worth N72.17 billion across 81,131 deals. NEM Insurance led activity by volume, followed by Fortis Global Insurance, VFD Group, Access Holdings, and FCMB Group. Market analysts expect a possible rebound in the next trading session as bargain hunting may return.

source: punch