The Nigerian equities market concluded the week on a downward trajectory, with investors witnessing a N475 billion decline in portfolio values, marking the fourth consecutive bearish session. The market capitalisation, which opened at N124.238 trillion, closed at N123.763 trillion, representing a 0.38 per cent decline.
The All-Share Index also fell by 0.38 per cent, or 741.03 points, to close at 192,826.78, down from the previous session’s 193,567.81. Consequently, the Year-to-Date (YTD) return dropped to 23.91 per cent.
Market Breadth: Gainers Outnumber Losers
Despite the overall market decline, market breadth closed positive with 39 gainers and 25 losers, indicating that while heavyweight stocks dragged the index downward, broader market participation remained active.
Top Gainers
| Sovereign Trust Insurance | 9.95% | N2.21 |
| RT Briscoe | 9.93% | N12.51 |
| NGX Group | 9.78% | N124.00 |
| Ellah Lakes | 9.70% | N13.00 |
| Omatek | 9.70% | N2.60 |
Top Losers
| Mecure | -9.97% | N75.85 |
| Meyer | -9.90% | N18.65 |
| Daar Communications | -9.83% | N2.11 |
| Champion Breweries | -6.49% | N18.00 |
| Dangote Cement | -6.09% | N779.00 |
Market Activity Declines
Market activity weakened during the session, with total volume traded down 5.15 per cent to 823.83 million shares, valued at N34.75 billion across 63,759 transactions.
Top Traded Stocks by Volume
Fortis Global Insurance recorded the highest volume with 146.62 million shares traded, accounting for 17.80 per cent of the day’s total volume.
Top Traded Stocks by Value
Aradel recorded the highest value at N7.14 billion, accounting for 20.54 per cent of total value traded for the day.
Market Drivers
The decline was primarily driven by continued profit-taking in heavyweight stocks, particularly Dangote Cement, which fell by 6.09 per cent to close at N779 per share. Investors appear to be locking in gains following the market’s strong performance earlier in the year, as reflected in the still-robust YTD return of 23.91 per cent despite recent pullbacks.
Outlook
Analysts suggest that the market may continue to experience volatility as investors reposition their portfolios ahead of first-quarter earnings season and in response to macroeconomic developments. However, the positive market breadth—with more gainers than losers—suggests underlying strength in select sectors even as blue-chip stocks experience temporary corrections.
Investors are advised to maintain a long-term perspective and focus on fundamentally sound companies with strong earnings potential as the market navigates this consolidation phase.
