Nigerian Stock Market Sheds N33bn as Trading Volume....

Samuel Mobolaji

The Nigerian Exchange (NGX) closed lower on Thursday, with the All-Share Index (ASI) losing 5 basis points (bps) to settle at 105,426.12 points, while market capitalisation declined by ₦33 billion to ₦66.11 trillion.

Trading activity saw a sharp contraction, with total volume plummeting by 92.65 per cent to 423.62 million shares and transaction value tumbling by 97.32 per cent to ₦9.18 billion, reflecting a significant drop in investor participation. However, the number of deals rose by 4.45 per cent to 11,393, suggesting increased retail trading.

Market breadth remained weak at 0.79, as more stocks declined than advanced. The Financial Services sector dominated trading, leading both in volume (279.40 million units) and value (₦5.70 billion).

ACCESSCORP (-2.22 per cent) topped volume charts with 66.96 million shares, while ZENITHBANK (-2.25 per cent) recorded the highest traded value at ₦1.97 billion.

Meanwhile, the NASD OTC Securities Exchange also closed in the red, with the NSI slipping 0.14 per cent to 3,310.5 points, as market capitalisation dropped to ₦1.91 trillion.

Trading activity soared, with volume surging by 2,483.08 per cent, while value and number of trades jumped 760.98 per cent and 276.92 per cent, respectively.

SDCSCSPLC led the NASD gainers, rising 7.14 per cent to ₦25.21, while SDOKITIPUPA fell 6.24 per cent to close at ₦240.50.