Stock Market Sheds N900bn On Pullback Amid Heavy Trading Activity

The Nigerian stock market closed on a negative note, losing N900 billion, as profit-taking in key sectors, particularly Banking and Oil & Gas, weighed on overall market performance.

The All Share Index (ASI) dipped by 1,402.55 points, representing a loss of 0.69 per cent to close at 201,156.86 points. Also, market capitalisation shed N900 billion to close at N129.126 trillion.

The overall downturn was driven by losses recorded in medium- and large-capitalised stocks, including Aradel Holdings, Presco, Guaranty Trust Holding Company (GTCO), Nigerian Exchange Group, and Red Star Express.

On market outlook, Imperial Asset Managers Limited said, “We expect the market to maintain a cautious and mixed trajectory in the near term, as investors continue to rebalance portfolios following recent gains. The elevated trading volume suggests ongoing institutional participation; however, sustained weakness in key sectors may keep the market under pressure.

“We advise investors to remain selective, focusing on fundamentally strong stocks with resilient earnings prospects while taking advantage of intermittent price corrections to build strategic positions.”

Market breadth closed negative, with 38 declining stocks outpacing 31 advancing counters. Secure Electronic Technology recorded the highest price gain of 10 per cent to close at N1.32, per share. Guinness Nigeria followed with a gain of 9.92 per cent to close at N423.20, while John Holt up by 9.72 per cent to close at N11.85 per share.

Sovereign Trust Insurance rose by 9.57 per cent to close at N2.06, while Linkage Assurance appreciated by 9.33 per cent to close at N1.64 per share.

On the other hand, Red Star Express led the losers’ chart by 9.98 per cent to close at N25.70, while Aradel Holding followed with a decline of 9.68 per cent to close at N1, 210.30, while Presco declined by 9.30 per cent to close at N1,701.10 per share.

LivingTrust Mortgage Bank depreciated by 8.40 per cent to close at N4.80, while DAAR Communications shed 7.50 per cent to close at N1.85, per share.

Meanwhile, the total volume traded appreciated by 246 per cent to 6.061 billion units, valued at N130.060 billion, and exchanged in 58,562 deals. Transactions in the shares of FCMB Group topped the activity chart with 516.227 million shares valued at N6.555 billion. Wema Bank followed with 213.386 million shares worth N5.566 billion, while Zenith Bank traded 163.107 million shares valued at N18.100 billion.

Access Holdings traded 123.850 million shares valued at N3.168 billion, while GTCO transacted 100.017 million shares worth N12.356 billion.