Nigeria’s equities market declined by 0.11% on Thursday as investors maintained a cautious trading approach amid lingering market uncertainties.
The dip pushed the Nigerian Exchange Limited (NGX) All-Share Index (ASI) lower from 107,798.99 points to 107,675.46 points while the market capitalization dropped from N67.179 trillion to N67.102 trillion.
The sustained sell pressure has weighed on the market’s year-to-date (YtD) return to +4.61%.
The downturn was driven by losses in Fidson Healthcare Plc, Ecobank Transnational Incorporated (ETI), Prestige Assurance, and Sunu Assurances, which emerged as the session’s biggest laggards.
Fidson Healthcare recorded the steepest decline, falling from N19.80 to N17.90, representing a 9.60% loss. It was followed by ETI, which dropped from N34.70 to N31.40, shedding N3.30 or 9.51%.
Similarly, Prestige Assurance declined by 7.50%, closing at N1.11 from N1.20, while Sunu Assurance fell 6.44% to N5.52, down from its previous high of N5.90.
Despite the overall weakness, trading activity remained robust with investors exchanging 423,420,772 shares worth N9.565 billion in 11,112 deals.
Stocks such as FCMB Group, Zenith Bank, Access Holdings, Jaiz Bank, and Caverton were among the most actively traded on the NGX.
With the market struggling to sustain upward momentum, analysts suggest that investor sentiment remains fragile, influenced by both domestic economic concerns and global market trends.
The mixed trading pattern observed in recent sessions indicates that short-term volatility may persist as market participants weigh corporate earnings, monetary policy direction and macroeconomic developments.
While some stocks continue to attract bargain hunters, the broader market may require stronger catalysts to regain bullish momentum in the coming weeks.
