The Nigerian equities market closed on a subdued note on Thursday, as investors trimmed positions ahead of the Easter holiday, causing a slight decline in key performance indicators.

The NGX All-Share Index slipped by 0.2 basis points to settle at 201,698.89 points, while the year-to-date return remained unchanged at 29.62 per cent. Market capitalisation also edged lower by 0.002 per cent to N129.81 trillion, reflecting a N3 billion decline in investors’ wealth.

Investor sentiment remained cautious, with foreign participation relatively muted. Data showed that investors lost approximately N3.00 million during the session, as trading activity slowed significantly in anticipation of the holiday break.

Market breadth improved to 1.42 times, indicating a positive tilt in sentiment, as 34 stocks advanced against 24 decliners, while 73 equities closed flat. Gains were led by Unilever Nigeria Plc, Fortis Global Insurance Plc, Multiverse Mining and Exploration Plc, Legend Internet Plc, and Zichis Agro Allied Industries. Conversely, John Holt Plc, Abbey Mortgage Bank Plc, International Energy Insurance Plc, Chams Holding Company Plc, and Tantalizers Plc topped the losers’ chart.

Sectoral performance closed mixed. The Insurance index led gainers, rising by 0.54 per cent, supported by strong advances in Fortis Global Insurance Plc, Sovereign Trust Insurance Plc, and Prestige Assurance Plc. The Banking index also gained 0.13 per cent, buoyed by buying interest in Jaiz Bank Plc, Guaranty Trust Holding Company Plc, Wema Bank Plc, and Fidelity Bank Plc.

On the downside, the Consumer Goods index fell by 0.41 per cent, dragged by losses in Nigerian Breweries Plc, International Breweries Plc, Honeywell Flour Mills Plc, and Champion Breweries Plc. The Oil & Gas index declined by 0.10 per cent due to sell-offs in Oando Plc, while the Industrial Goods index closed flat as gains in Lafarge Africa Plc and Cutix Plc offset the absence of broad-based buying interest.

Trading activity weakened across all metrics, with total volume traded declining by 31.33 per cent to 559.98 million shares, while turnover dropped by 42.14 per cent to N19.26 billion. The number of deals also fell, underscoring a cautious, wait-and-see approach among investors.

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