Fidson Extends Selloff With Nearly 20% Loss in Two Sessions

Fidson Healthcare Plc suffered another steep decline on Thursday, extending one of the Nigerian Exchange’s sharpest selloffs this week as persistent investor exits wiped nearly 20 percent off the pharmaceutical company’s market value in just two trading sessions.

The company’s shares fell 9.98 percent from N84.20 to N75.80, making it the worst-performing stock on the Nigerian Exchange (NGX) during Thursday’s trading session.

The latest decline followed an equally sharp 9.99 percent drop in the previous session, when the stock retreated from N93.55 to N84.20.

Combined, the two declines have erased approximately 18.97 percent of Fidson’s market value within two trading sessions.

Thursday’s selloff occurred despite a positive outing for the broader market.

The NGX All-Share Index (ASI) advanced to 239,156.09 points, while equity market capitalisation increased to N154.44 trillion, supported by renewed buying interest in banking stocks.

Large-cap lenders dominated trading activity, with Zenith Bank Plc recording transactions worth N8.20 billion, followed by GTCO Plc at N4.81 billion and Access Holdings Plc at N1.29 billion.

Meanwhile, First HoldCo Plc gained 4.65 percent, highlighting the divergence between sectors as investors rotated capital toward financial stocks.

The continued weakness in Fidson contrasts sharply with the strength seen in banking equities, suggesting market participants remained highly selective in allocating capital.

The pharmaceutical company also led a broader group of declining stocks.

Other major losers included Learn Africa Plc, which shed 9.84 percent, International Energy Insurance Plc, down 9.84 percent, DAAR Communications Plc, which lost 8.61 percent, and Legend Internet Plc, down 8.43 percent.

Despite the pressure on selected equities, overall market activity remained resilient.

Investors traded 499.96 million shares valued at N35.15 billion across 40,323 deals, indicating that liquidity remained healthy even as profit-taking persisted in specific counters.

The sharp decline in Fidson over two consecutive sessions underscores the increasingly stock-specific nature of trading on the Nigerian Exchange.

Rather than broad-based selling across the market, investors appear to be repositioning portfolios, reducing exposure to certain equities while increasing allocations to sectors attracting stronger institutional interest.

With nearly one-fifth of its market value erased in just two trading sessions, Fidson will likely remain under close watch as investors assess whether the recent selloff represents continued profit-taking or the emergence of fresh buying opportunities.