Trading on the Nigerian Exchange Limited closed on a bearish note on Thursday, as equities extended their downward trajectory amid cautious investor sentiment and sustained profit-taking across major sectors.
Official data from the Daily Official List showed that the All-Share Index declined to 193,567.81 points, while market capitalisation eased to N124.24tn, wiping out approximately N514bn in investor value. Market analysts have projected mixed performance in the near term as participants reposition portfolios during the ongoing earnings season, with profit-taking continuing to weigh on sentiment.
Sectoral Performance
Sector performance was largely negative. The consumer goods sector recorded mild losses as investors trimmed positions in leading counters.
Industrial stocks posted the steepest decline among tracked sectors, pressured by sell-offs in heavyweight manufacturing names. The banking index also retreated, reflecting profit-taking after earlier gains in the week, while insurance stocks traded more softly amid relatively low liquidity.
In contrast, the oil and gas sector bucked the broader market trend, rising modestly by 0.12 per cent on the back of selective buying interest.
Market Breadth and Top Movers
Market breadth closed negative, with 38 decliners outpacing 30 gainers.
Among the top advancers were FTN Cocoa (+10 per cent), RT Briscoe (+9.95 per cent), DEAPCAP (+9.92 per cent), JapaulGold (+9.91 per cent), and Ellah Lakes (+9.72 per cent). On the losers’ chart, Jaiz Bank fell 9.98 per cent, while Ikeja Hotel and John Holt declined 9.90 per cent each. Enamelware shed 9.98 per cent, and Cadbury Nigeria lost 9.69 per cent.
Trading Activity
Trading activity weakened compared to the previous session across key indicators. Share volume dropped 36.01 per cent to 868.54 million units, transaction value declined 30.58 per cent to N31.48bn, and total deals edged down by 0.48 per cent to 69,310 transactions.
Thursday’s performance marks the third consecutive day of losses on the NGX, following weeks of sustained bullish momentum, as investors adopt a more cautious stance amid portfolio adjustments and profit-taking.
