Market Extends Decline as Investors Lose ₦478bn

By Ayo Kehinde

The Nigerian equities market closed lower on Tuesday, extending its bearish run as sustained sell pressure across key counters dragged market performance indicators into negative territory.

Market capitalisation declined by ₦478 billion to close at ₦158.219 trillion from ₦158.697 trillion recorded at the opening of trading.

Similarly, the NGX All-Share Index (ASI) shed 874.00 points to settle at 246,686.66, compared with 247,560.66 recorded in the previous session.

Market breadth remained weak, with 38 decliners outweighing 14 gainers, reflecting cautious investor sentiment and continued profit-taking activities across several sectors.

On the gainers’ chart:
• INTENEGINS appreciated by 9.86 percent, (rising from ₦4.97 to ₦5.46).
• TRANSEXPR gained 7.14 percent, (advancing from ₦4.76 to ₦5.10).
• NEIMETH rose by 6.80 percent (from ₦10.30 to ₦11.00).
• LIVINGTRUST added 5.00 percent, (increasing from ₦4.00 to ₦4.20).
• ABBEYBDS advanced by 4.44 percent, (moving from ₦6.75 to ₦7.05).

On the losers’ chart:
• PZ declined by 10.00 percent, (falling from ₦98.00 to ₦88.20).
• CWG shed 10.00 percent, (dropping from ₦24.00 to ₦21.60).
• ABCTRANS lost 9.95 percent, (closing at ₦6.88 from ₦7.64).
• WEMABANK fell by 9.09 percent, (retreating from ₦33.00 to ₦30.00).
• SOVRENINS depreciated by 8.16 percent, (slipping from ₦2.94 to ₦2.70).

Meanwhile, MTN Nigeria Communications, Okomu Oil Palm, Lafarge Africa, Custodian Investment, and Union Dicon Salt closed flat during the session.

Investor sentiment remained negative as the market recorded more than twice as many losers as gainers, underscoring continued risk-off positioning among market participants.

The sharp declines in consumer goods, banking, and technology stocks weighed heavily on overall market performance.

Looking ahead, market direction is expected to remain driven by bargain-hunting opportunities in fundamentally strong stocks.

However, cautious trading may persist in the near term as investors continue to react to recent price corrections and broader market volatility.