Nigeria’s equities market extended its downward trajectory, posting a second consecutive session of losses as profit-taking in selected heavyweight stocks weighed on the benchmark index.
The NGX All-Share Index fell by 0.07% to close at 244,956.94 points, trimming market capitalization by approximately N103.60bn to settle at N159.04trn, while easing the year-to-date return to 57.41%.
Market breadth remained negative with 16 gainers against 22 decliners, driven by pullbacks in key counters such as NGXGROUP, OANDO, WEMABANK, ZENITHBANK, GTCO, and UBA.
Despite the broader market dip, trading activity strengthened with total volume rising 1.87% to 360.75 million units valued at N20.32bn across 31,401 deals, where LIVESTOCK led in volume and ARADEL topped in traded value.
Meanwhile, the unlisted NASD Securities Index moved against the bearish trend, closing 0.97% higher at 4,345.33 points. In the foreign exchange market, the naira depreciated at both segments, weakening to N1,344.40/US$ at the NFEM window and sliding to an average of N1,370/US$ at the BDC window.
In commodities, global oil prices climbed as Brent crude advanced 2.32% to US111.35 per barrel following renewed geopolitical tensions and Houthi attacks in Saudi Arabia, whereas gold pulled back 1.70% to settle at US4,062.28 per ounce.
