Nigeria's stock market fell below the N160 trillion mark as investors took profits across dozens of listings, pulling back gains from earlier trading. The Nigerian Exchange Limited All-Share Index declined by 2,261.39 basis points, or 0.91 per cent, to close at 245,278.34 basis points. Market capitalisation dropped by N1.47 trillion to N159.257 trillion as a result of the selling pressure.
The mood on the exchange turned decidedly negative, with 39 stocks recording losses against just 15 gainers. Vitafoam Nigeria led the decliners, shedding 10 per cent to close at N174.60 per share, followed by Cutix, which fell 9.79 per cent to N2.12, and Omatek Venture, which lost 9.38 per cent to N1.45. International Energy Insurance and Linkage Assurance also declined by 6.48 per cent and 6.29 per cent respectively. On the gaining side, Multi Trex Integrated Foods emerged as the strongest performer, adding 10 per cent to 66 kobo per share, with Critical Minerals Financing Corporation advancing 9.97 per cent to N3.64 and Austin Laz & Company gaining 9.93 per cent to N3.21.
Trading activity intensified despite the bearish tone, with total volume traded jumping 35.5 per cent to 349.34 million units valued at N17.99 billion across 43,115 deals. Access Holdings dominated activity with 23.439 million shares worth N658.348 million, followed by Livestock Feeds with 23.143 million shares valued at N403.202 million, and UBA with 22.818 million shares worth N959.123 million. Honeywell Flour Mills and GTCO also attracted significant trading interest.
Market analysts said the session reflected sustained selling pressure that stronger trading volumes failed to overcome. Cowry Assets Management Limited noted that bargain-hunting could provide support for a modest recovery in coming sessions, though persistent profit-taking may limit how much ground the market regains.
For savers and investors, the decline means portfolio values have contracted by nearly N1.5 trillion, though heightened trading volume suggests opportunities for those seeking entry points.