The Nigerian Exchange (NGX) All-Share Index fell by 0.32 per cent to 245,116.49 points, reducing its year-to-date return to 57.52 per cent. Market capitalisation also dropped to N159.152 trillion from its previous level, reflecting weaker share prices across the market.
The negative performance followed price declines in large and medium-sized companies, including First Holdco, Custodian Investment, CWG, Access Holdings and Zenith Bank. These losses contributed to the broader downturn as investors reassessed their positions.
Market sentiment turned negative, with 37 stocks recording losses compared with 18 gainers. This imbalance produced a bearish market breadth, showing that declining shares outnumbered those that advanced.
Despite the wider downturn, some companies recorded strong gains. LivingTrust Mortgage Bank led the gainers, rising 9.90 per cent to close at N3.22 per share. ABC Transport followed with a 9.77 per cent increase to N7.30, while Meyer advanced 9.72 per cent to N17.50 per share.
Livestock Feeds gained 9.65 per cent to close at N18.75, while Caverton Offshore Support Group rose by 6.67 per cent to N4.80 per share.
On the losing side, CWG shares topped the decliners’ chart, falling 9.98 per cent to close at N18.05 per share. Austin Laz & Company followed with a 9.92 per cent decline to N3.18, while Neimeth International Pharmaceuticals dropped 9.52 per cent to N7.60 per share.
Custodian Investment fell by 7.57 per cent to close at N64.70, while Critical Minerals Financing Corporation (CMFC) lost 7.51 per cent to finish at N3.57 per share.
Trading activity increased despite the market decline. Total volume rose by 1.5 per cent to 354.13 million shares, valued at N23.60 billion, across 32,585 deals. The figures suggest that investors remained active even as selling pressure affected share prices.
Zenith Bank shares led trading activity, with 48.214 million shares changing hands in transactions worth N5.902 billion. Access Holdings followed with 40.985 million shares valued at N1.105 billion, while Fidelity Bank recorded 20.445 million shares worth N441.927 million.
Guaranty Trust Holding Company (GTCO) traded 13.885 million shares, with a reported transaction value of N1,696 billion. Austin Laz & Company recorded 13.765 million shares worth N48.061 million.
Looking ahead, Cowry Assets Management Limited said selective bargain-hunting could help the NGX market recover. However, the firm warned that continued profit-taking could limit gains in the near term.
The session highlights the mixed conditions facing investors, with selected stocks attracting buyers while losses in major companies dragged the wider market lower. Although some shares posted strong gains, the overall decline in the index and market capitalisation showed that selling pressure remained a key concern.
Will bargain-hunting help the Nigerian stock market recover in the next trading session, or will continued profit-taking keep share prices under pressure?
