The Nigerian stock market recorded its fourth consecutive day of decline on Thursday, with 39 listed firms contributing to the downturn. Market capitalisation fell by 0.36 percent, wiping out N348 billion for investors and leaving the total at N95.316 trillion, down from N95.664 trillion at the open. The All‑Share Index also slipped 0.36 percent, or 547.32 points, to 150,573.87, compared with 150,026.55 on Wednesday. Year‑to‑date returns have dropped 45.76 percent, underscoring a challenging period for investors.
The decline was driven by heavy sell‑offs in several key stocks, notably Legend Internet, Champion Breweries and Sovereign Trust Insurance. Legend Internet led the losers’ list with a 9.93 percent drop, while UPDC topped the gainers’ chart, rising 9.83 percent to close at N6.55, followed by FCMB.
Market activity also weakened. According to data from the Nigerian Exchange Limited (NGX), trading volume fell to 619.63 million shares worth N16.5 billion across 24,865 transactions, compared with 1.11 billion shares valued at N29.8 billion in 27,303 deals on Wednesday. FCMB Group led in traded volume, handling 149.9 million shares worth N1.6 billion.
The ongoing slide reflects the cumulative losses investors have endured since the start of the week. As the market continues to fluctuate, investors are closely monitoring the situation, seeking opportunities to recover losses or adjust strategies. The current trend highlights the importance of careful investment decisions and a diversified portfolio to mitigate risks in a volatile stock market.
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