The Nigerian stock market closed lower on Thursday as renewed selloffs in banking and consumer goods stocks dragged the benchmark index into negative territory, wiping out N169.9 billion from investors’ wealth.

Trading data showed that the Nigerian Exchange Limited (NGX) All-Share Index declined by 0.10 per cent to close at 252,243.11 points, reversing the previous day’s marginal gain and moderating the market’s year-to-date return to 62.10 per cent. Market capitalisation fell to N161.7 trillion.

The downturn was largely driven by losses in major banking counters, with the Banking Index shedding 0.92 per cent to emerge as the worst-performing sector of the day. Consumer goods stocks also weakened by 0.13 per cent, while the Industrial and Oil & Gas indices dipped by 0.03 per cent and 0.02 per cent respectively. The Insurance sector bucked the bearish trend with a 0.46 per cent gain, while the Commodity Index closed flat.

Despite the overall market decline, investor sentiment remained relatively positive, as gainers outnumbered losers by 37 to 27, reflecting a market breadth ratio of 1.4 times.

Top gainers for the session included Learn Africa Plc, Fidson Healthcare Plc, Austin Laz & Company Plc, Berger Paints Nigeria Plc, and Deap Capital Management & Trust Plc.

On the losers’ chart were Zichis Agro-Allied Industries Limited, FTN Cocoa Processors Plc, Meyer Plc, RT Briscoe Nigeria Plc, and Neimeth International Pharmaceuticals Plc.

Market activity also weakened significantly, underscoring cautious investor participation. Total traded volume dropped by 45.06 per cent to 1.04 billion shares, while turnover plunged by 64.66 per cent to N41.61 billion. The number of deals executed also slipped marginally by 1.83 per cent to 74,822 transactions.

The market may continue to experience mild bearish pressure in Friday’s trading session, as investors remain cautious amid weakening momentum and subdued participation across key sectors.

 

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