The Nigerian equities market yesterday shed N310.85 billion as investors booked profits in Zenith Bank Plc and 31 other counters on the Nigerian Exchange (NGX).
Zenith Bank’s stock dipped 0.77 per cent to N64.50, while Transcorp Hotels Plc fell 9.95 per cent to N155.60, driving the market capitalisation down to N93.659 trillion—a 0.33 per cent decline from its opening level of N93.969 trillion.
The benchmark NGX All-Share Index (ASI) also retreated, losing 487.66 points to close at 146,940.29, compared to 147,427.95 recorded at the start of trading. Month-to-Date and Year-to-Date returns eased to +2.4 per cent and +42.8 per cent, respectively.
Sectoral Performance Mixed
Trading was broadly negative, with the Insurance Index down 1.5 per cent, Industrial Goods falling 0.1 per cent, and the Banking Index slipping 0.1 per cent. The Oil & Gas Index inched up 0.1 per cent, while the Consumer Goods Index was unchanged.
Overall sentiment remained bearish as 31 stocks closed lower, outpacing 22 gainers.
Top Gainers and Losers
Learn Africa led the gainers’ chart with a 9.57 per cent rise to N6.30. MeCure Industries appreciated 8.72 per cent to N32.40, while Deap Capital climbed 7.50 per cent to N1.72. International Energy Insurance gained 6.52 per cent, and R.T. Briscoe advanced 5.96 per cent to N3.20.
On the losers’ side, Austin Laz and Eterna Plc both plunged 10 per cent, closing at N2.07 and N31.95, respectively. Transcorp Hotels shed 9.95 per cent, followed by Ikeja Hotel with a 9.65 per cent decline and UACN down 9.09 per cent to N88.00.
Trading Activity Surges
Market activity spiked, with total volume traded rising 258.34 per cent to 1.973 billion units, worth N30.231 billion, exchanged in 23,038 deals.
eTranzact International dominated the activity chart with 1.027 billion shares valued at N7.495 billion. Access Holdings traded 183.56 million shares worth N3.769 billion, while Cornerstone Insurance moved 115.98 million shares valued at N609.38 million. Consolidated Hallmark Holdings and FCMB Group also recorded significant volumes.
Analysts Expect Market Stability Despite Sell-Off
Analysts at Imperial Asset Managers Limited said the market is likely to remain resilient despite intermittent profit-taking in recently rallied stocks.
They expect stability to be supported by continued demand for blue-chip equities, year-end portfolio rebalancing, and strong corporate guidance ahead of 2026.
“We anticipate a mixed but stable trading pattern in the near term, with bargain hunters likely to re-enter at attractive price levels,” they noted.
