Nigeria’s equities market closed lower on Thursday, wiping off an estimated ₦557 billion in investor wealth, as sell-side pressure intensified across the board following renewed profit-taking activities.
Market data from the Nigerian Exchange Limited (NGX) indicated that the downturn was broad-based, with all major sectoral indices ending the session in the red. The bearish mood comes as investors position cautiously ahead of the anticipated release of fourth-quarter 2025 corporate earnings, widely viewed as the next trigger for potential market repricing.
At the close of trading, the NGX All-Share Index declined by 0.52 per cent to settle at 165,397.4 points, while total market capitalisation slipped to ₦105.9 trillion. The decline was largely attributed to sell-offs in heavyweight stocks, including International Breweries, which fell by 6.00 per cent, Lafarge Africa (WAPCO), down 5.06 per cent, and Zenith Bank, which shed 3.40 per cent.
Market breadth remained negative, reflecting weaker investor sentiment. A total of 39 stocks recorded price declines, outweighing 36 equities that posted gains, resulting in a breadth ratio of 0.92x. Despite the overall market weakness, Infinity Trust Mortgage Bank, John Holt, and NCR emerged as the session’s top performers, each appreciating by the maximum daily limit of 10.00 per cent. On the losing side, Omatek Ventures led the laggards with a 9.40 per cent decline.
Trading activity also softened, as both volume and value of transactions moderated compared to the previous session. Total shares traded fell by 6.6 per cent to 768.3 million units, while transaction value dropped by 15.01 per cent to ₦21.2 billion.
Access Holdings dominated trading by volume, with 54.3 million shares exchanged, accounting for 7.1 per cent of total market turnover. In contrast, Geregu Power topped the value chart, recording trades worth ₦2.8 billion, representing 13.1 per cent of the total value traded.
A breakdown of sectoral performance showed widespread losses. The Insurance index declined by 1.35 per cent, weighed down by losses in NEM Insurance, which dropped 5.60 per cent. The Consumer Goods index followed closely, shedding 1.31 per cent, driven primarily by International Breweries’ sharp decline.
The Banking index fell by 0.95 per cent amid sell-offs in major lenders, particularly Zenith Bank. The Industrial Goods index declined by 0.71 per cent due to weakness in Lafarge Africa, while the Oil and Gas index dipped marginally by 0.15 per cent, pressured by losses in Oando, which fell by 2.08 per cent. Meanwhile, the Commodity Index closed flat, showing no significant movement.
Market analysts note that near-term performance will likely remain cautious as investors await clarity from upcoming earnings releases and broader macroeconomic signals.
