The Nigerian stock market closed Thursday on a downbeat note, as profit‑taking across major stocks shaved ₦958 billion off investors’ wealth.
Market capitalisation dropped to ₦149.89 trillion from ₦150.85 trillion the previous day, while the All‑Share Index fell by 1,493 points to 233,580.83.
The sell‑off was broad, with 34 companies ending in the red against just 14 gainers. Heavyweights like Aradel Holdings and Deap Capital Management both tumbled 10 per cent. Trans‑Nationwide Express, Regency Alliance Insurance, and C & I Leasing also posted steep losses.
Yet there were glimmers of resilience. Red Star Express surged nearly 10 per cent, while Legend Internet, Neimeth Pharmaceuticals, Abbey Mortgage Bank, and Ellah Lakes all managed gains.
Trading activity slowed, with volumes down 19 per cent to 393.65 million shares worth ₦19.21 billion. Access Holdings led in volume, while Lafarge Africa topped the value chart.
For investors, the day’s losses were a reminder of the market’s volatility. After weeks of strong returns, many chose to lock in profits, leaving the NGX to stumble despite its impressive 50 per cent gain so far this year.