Nigerian Stocks Slip, Ending Six-Day Rally as Bears Take Charge
Nigerian equities experienced a downturn on Thursday, ending a six-day winning streak as market sentiment turned bearish, with 37 stocks recording losses.
The All-Share Index retreated by 0.40% to settle at 120,772.68 points, down from Wednesday’s close of 121,257.69 points.
Market capitalisation followed suit, declining by 0.40% to ₦76.454 trillion, from ₦76.761 trillion, representing a ₦307 billion decrease in value.
Trading activity involved 893 million share units across 25,375 transactions, generating ₦18 billion in total value.
Market breadth turned negative, with 33 advancing stocks outnumbered by 37 declining equities.
UNILEVER and SFSREIT topped the gainers’ list, each posting 10.00% increases to close at ₦51.70 and ₦249.25, up from previous closes of ₦47.00 and ₦226.60, respectively.
Other notable performers included NEIMETH, UACN, and CAP, which recorded gains of 9.98%, 9.97%, and 9.92%, respectively.
THOMASWYAT led the decliners, dropping 10.00% to ₦2.07, from ₦2.30 in the previous session.
NAHCO and OANDO also featured among the major losers, declining 9.99% and 9.96%, respectively.
ELLAHLAKES dominated trading volume, with approximately 113 million units traded across 1,108 transactions worth ₦851 million.
ACCESSCORP recorded significant activity, with roughly 76 million units changing hands in 1,147 deals valued at ₦1.7 billion.
CAVERTON completed the top three most active stocks, trading about 64 million units through 290 transactions worth ₦335 million.
