The Nigerian stock market ended trading on a negative note as investors collectively lost about N170 billion following sustained bearish pressure across key equities. The downturn reflects a cautious mood among investors as market sentiment weakened during the session.
The All-Share Index slipped by 0.10 per cent to close at 252,243.11 points, highlighting a mild but steady decline in market performance. This drop mirrored the reduction in overall market capitalisation, which fell to N161.669 trillion as sell-offs intensified in select large and mid-cap stocks.
Heavyweight stocks such as Stanbic IBTC Holdings, Wema Bank, Meyer, Zichis Agro Allied Industry, and The Initiates Plc (TIP) contributed significantly to the downturn, as price depreciation across these counters dragged the broader market lower. Analysts noted that low investor participation and weak trading sentiment continued to weigh on performance.
Despite the negative close, the market still recorded a positive breadth with 37 gainers against 27 losers. Learn Africa led the gainers’ chart with a 10 per cent rise, followed closely by Fidson Healthcare and Berger Paints, showing that selective buying interest remained active in the market.
Trading activity, however, slowed sharply as total volume declined by 45.06 per cent to 1.04 billion units. Chams Holding Company dominated transactions, followed by VFD Group, First Holdco, Access Holdings, and UBA, indicating that investor attention remained concentrated on a few highly liquid stocks despite the overall cautious market tone.
source: Leadership