Nigerian equities market extends losses for fourth consecutive day, sheds N581bn

The All-Share Index also fell by 905.30 points, a 0.37 percent decline, closing at 242,227.31 points. This downturn was primarily due to profit-taking in large and medium-capitalised stocks such as Aradel Holdings, UACN, Stanbic IBTC Holdings, Eterna, and Transnational Corporation. Market breadth was negative, with 30 declining stocks outnumbering 24 advancing ones.

McNichols led the decliners with a 10 percent drop, followed by Associated Bus Company and Eterna. Conversely, International Energy Insurance saw the highest gain, rising 10 percent, with Omatek Ventures, Ellah Lakes, Abbey Mortgage Bank, and Cutix also recording significant increases. Activity metrics weakened, as total volume traded decreased by 43.4 percent to 522.28 million units, valued at N24.11bn.

Access Holdings led in trading volume, followed by FCMB Group, Nigerian Exchange Group, Zenith Bank, and Sterling Financial Holdings Company.