Lagos: It was a rough end to the trading week for investors as the Nigerian stock market slipped again on Friday, wiping out ₦983 billion in value.
The downturn was driven by heavy sell-offs in some of the market’s most-watched stocks.
Aradel, International Energy Insurance, Trans-Nationwide Express, E-Tranzact, and UPDC all saw sharp declines, dragging overall performance into negative territory.
By the close of trading, market capitalisation had dropped from ₦149.89 trillion to ₦148.91 trillion, while the All-Share Index fell by 1,531.81 points to settle at 232,049.02.
The year-to-date return eased to 49.12 per cent, reflecting the impact of sustained profit-taking.
Market sentiment was weak, with 38 stocks closing lower against just 13 gainers. Aradel led the losers, shedding 10 per cent to close at ₦1,417.50.
International Energy Insurance fell nearly 10 per cent to ₦5.79, while Trans-Nationwide Express dropped to ₦3.28. E-Tranzact and UPDC also recorded steep losses.
On the brighter side, a few stocks managed to buck the trend. Universal Insurance rose by 6.32 per cent to ₦1.01, McNichols gained 5.52 per cent to ₦8.60, and Linkage Assurance advanced 4.67 per cent to ₦1.57.
Trading activity slowed, with volumes dipping slightly to 388.69 million shares worth ₦18.43 billion, exchanged in 44,631 deals. Access Holdings Plc led the volume chart with 33.22 million shares, while Aradel Holdings Plc topped the value chart with transactions worth ₦4.29 billion.
For many investors, Friday’s losses were a reminder of how quickly sentiment can shift in the market. After weeks of strong gains, the sell-offs underscored the caution now creeping in, as traders weigh profit-taking against long-term confidence in the market’s resilience.
