Investor wealth fell again at the Nigerian Exchange on Thursday after the close of trading, with market capitalisation sliding and the benchmark index ending lower. The pullback reduced the value of listed equities by N958 billion, extending the pressure on sentiment heading into the next trading session.
Market cap and benchmark retreat
Figures from the Nigerian Exchange Limited showed market capitalisation dropped by 0.64% to end at N149.888 trillion, compared with N150.846 trillion at the close of the previous session. The All-Share Index (ASI) declined in line with the broader sell-off, losing 1,493.71 points—also 0.64%—to finish at 233,580.83 versus 235,074.54 earlier.
Broader sentiment turns negative
The market breadth ended tilted to declines, with 34 stocks closing lower compared with 14 that gained. Despite the day’s weakness, performance over the longer run remained positive, though the year-to-date return eased to 50.10%.
- Top decliners: Aradel Holdings and Deap Capital Management each fell by 10%, closing at N1,575.00 and N4.05 per share, respectively.
- Top gainers: Red Star Express rose 9.60% to close at N24.55, while Legend Internet climbed 9.09% to finish at N6.00.
Lower turnover, mixed trading concentration
Trading activity cooled despite the index slide. Total traded volume fell by 19.35% to 393.65 million shares, and the value of shares traded decreased to N19.21 billion across 45,813 deals.
- Volume leadership: Access Holdings accounted for 39.05 million shares, representing 9.92% of total traded volume.
- Value leadership: Lafarge Africa recorded the highest transaction value at N2.25 billion, making up 11.70% of total turnover.
