The Nigerian equities market extended its bearish run on Thursday as the Nigerian All-Share Index (ASI) fell for the fourth consecutive trading session, declining by 0.38% to close at 192,826.8 points, slipping below the critical 193,000 mark.Read original
The benchmark index shed 741.1 points from the previous close of 193,567.8, largely pressured by a sharp 6.09% drop in Dangote Cement, which weighed heavily on overall market performance.
Market Capitalisation Drops to N123.7 Trillion
Market capitalisation mirrored the negative sentiment, declining to N123.7 trillion from N124.2 trillion recorded in the previous session. A total of 63,759 deals were executed during the trading day.
Trading activity slowed, with total volume dropping to 823 million shares, compared to 868 million shares exchanged previously — signaling cautious investor participation.
By traded value, Aradel led the chart with N7.13 billion, closely followed by Zenith Bank at N7.12 billion. Other notable contributors included MTN Nigeria (N2 billion), NGX Group (N1.69 billion), and Transpower (N1.38 billion).
What the Data Is Saying
Market momentum remained negative as the ASI’s year-to-date return eased to 23.91%, down from 24.39% in the previous session.
Buying interest was selective among gainers. Sovereign Trust Insurance led the advance, rising 9.95% to N2.21, followed closely by RT Briscoe, which gained 9.93% to N12.51.
Other top gainers included:
NGX Group — up 9.78% to N124.00
Ellah Lakes — up 9.70% to N13.00
Omatek — up 9.70% to N2.60
On the losers’ chart, Mecure declined 9.97% to N75.85, while Meyer fell 9.90% to N18.65.
Other laggards included:
DAAR Communications — down 9.83%
Champion Breweries — down 6.49%
CWG — down 6.11%
Trading Activity Highlights
By volume, Fortis Global Insurance led with 146.6 million shares traded, followed by Zenith Bank (79.3 million shares), JaPaul Gold (57.1 million shares), Jaiz Bank (49.5 million shares), and Access Holdings (44.7 million shares).
SWOOTs and FUGAZ Performance
Among SWOOTs — stocks with market capitalisation above N1 trillion — performance skewed largely negative.
BUA Foods posted a marginal gain of 0.3%, while Wema Bank rose 0.19%. However, Dangote Cement recorded a steep 6.09% decline.
Within the FUGAZ banking group, sentiment was mixed but slightly positive. United Bank for Africa gained 2.95%, Zenith Bank advanced 2.25%, and Access Holdings rose 1.15%.
Meanwhile, First HoldCo and Guaranty Trust Holding Company both slipped 0.09%.
Outlook
The latest decline was primarily driven by losses in large-cap stocks, particularly Dangote Cement, amid subdued trading volumes and cautious investor sentiment.
If sell pressure persists, the All-Share Index could experience a deeper retracement in the coming sessions, especially if weakness in heavyweight stocks continues to dominate market direction.
