Lagos: The bearish tide deepened on Friday as profit‑taking swept through Nigeria’s equities market, erasing a staggering ₦1.226 trillion in value. Major stocks bore the brunt of investor exits, extending losses and underscoring fragile sentiment across the bourse.
Market capitalisation declined 0.76 per cent to N160.443 trillion, down from N161.669 trillion on Thursday.
Similarly, the All-Share Index dropped by 1,912.19 points, or 0.76 per cent, to close at 250,330.92, down from 252,243.11 previously. As a result, the year-to-date return eased to 60.87 per cent.
Losses in Zichis Agro Allied Industries, FTN Cocoa Processors Plc, The Initiates Plc, LivingTrust Mortgage Bank Plc, and International Energy Insurance Plc drove the downturn.
The market breadth remained positive, with 47 gainers and 28 losers despite the negative performance. May & Baker Nigeria Plc and ABC Transport Plc led gainers, both rising 10 per cent to close at N47.30 and N6.27 per share, respectively.
SCOA Nigeria Plc gained 9.98 per cent to close at N33.05, while Trans-Nationwide Express Plc rose 9.97 per cent to N7.06 per share.
DAAR Communications Plc also advanced by 9.76 per cent to close at N2.25 per share.
On the losers’ chart, Zichis Agro Allied Industries fell 9.97 per cent to N29.43, while FTN Cocoa Processors dropped 9.95 per cent to N8.96 per share.
The Initiates Plc slid 9.90 per cent to N32.30, while LivingTrust Mortgage Bank fell 9.88 per cent to N3.83 per share.
International Energy Insurance dropped 9.71 per cent to close at N2.79 per share.
Meanwhile, market activity improved as traded volume rose 4.28 per cent to 1.08 billion shares worth N44.29 billion in 65,744 deals.
CHAMS Holding Company Plc had the highest traded volume with 328.50 million shares, or 30.30 per cent of total volume.
ArAradel Holdings Plc recorded the highest traded value at N9.44 billion, accounting for 21.32 per cent of total traded value.
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