The Nigerian stock market ended the week on a bearish note as the Nigerian Exchange (NGX) All-Share Index declined by 0.46%, wiping off more than ₦425 billion in market value. This downturn was driven by persistent selling pressure, as cautious investors shifted focus towards fixed-income assets amid disinflationary signals in the economy.
Analysts observed that the equity market had shown signs of weakened risk appetite since the beginning of the week. Although bargain hunters initially targeted insurance stocks, profit-taking dominated trading sessions, sparking a broad-based sell-off across several sectoral indices.
By the close of Friday’s session, the NGX All-Share Index settled at 144,628.20 points, pulling the year-to-date return down to 40.52%. Insurance stocks were hit hardest, with NEM, CONAHLLPLC, ELLAHLAKES, MTNN, and 35 others recording losses.
Market turnover also reflected the downbeat sentiment, as trading activity slumped. The total volume of transactions dropped by 43.93%, while the total value of trades decreased by 36.80%, with stockbrokers reporting 1.37 billion units worth ₦13.76 billion exchanged across 31,717 deals.
UNIVINSURE dominated the activity chart in terms of volume, contributing 22.48% of the total market trades, followed by AIICO (8.59%), MBENEFIT (7.46%), VERITASKAP (5.13%), and SOVRENINS (4.52%).
On the losers’ list, NEM (-9.97%), STERLINGNG (-5.06%), INTBREW (-4.62%), MANSARD (-4.50%), and MTNN (-3.26%) were among the worst hit. Other major losers included FCMB (-1.35%), UCAP (-1.28%), UBA (-0.62%), OANDO (-0.48%), and FIDELITYBK (-0.24%).
Meanwhile, GTCO emerged as the most traded stock by value, accounting for 14.46% of the day’s total turnover. On the flip side, MBENEFIT led the advancers with a 10% gain, followed closely by IKEJAHOTEL (+9.95%), WEMABANK (+9.90%), DEAPCAP (+9.52%), TRIPPLEG (+8.32%), and DANGSUGAR (+6.57%).
In total, 39 equities declined while 30 posted gains, leaving market breadth in the negative territory. The heaviest losers of the day were LASACO, INTENEGINS, and LINKASSURE, which all slumped by 10%.
The market’s overall capitalization dropped by ₦425.05 billion, closing at ₦91.50 trillion. Sectoral performance was largely negative, with Insurance (-8.73%), Consumer Goods (-0.32%), Oil & Gas (-0.69%), Industrial (-1.32%), and Commodity (-0.57%) recording losses. Banking was the only sector that managed a modest gain of +0.56%.
Market experts note that the prevailing bearish trend reflects heightened investor caution and uncertainty over the market’s resilience, even as macroeconomic shifts continue to reshape asset allocation decisions.
