Nigerian equities market closes lower ahead of Easter break
The Nigerian stock market closed lower on Thursday, shedding approximately N3 billion in market value as investors offloaded shares in 24 listed firms ahead of the Easter holidays.
The downturn was led by sell-offs in companies including John Holt, Abbey Mortgage Bank, International Energy Insurance, CHAMS, and Tantalizers, which weighed on market sentiment. At the close of trading, the market capitalisation slipped marginally by 0.002 per cent, declining from N129.809 trillion at the opening to N129.806 trillion.
The All-Share Index also lost 4.66 points, or 0.002 per cent, settling at 201,698.89, down from 201,703.55 recorded in the previous session. Despite the dip, the market maintained a year-to-date return of 29.62 per cent.
Market breadth remained positive, however, with 34 gainers compared to 24 losers. Unilever Nigeria Plc led the gainers’ table, rising 10 per cent to close at N103.40 per share, followed by Fortis Global Insurance, Multiverse Mining, Legend Internet, and Zichis Agro Allied Industries.
On the losing side, John Holt recorded the steepest decline, dropping 9.91 per cent to close at N15.45 per share. Abbey Mortgage Bank, International Energy Insurance, CHAMS, and Tantalizers also posted notable losses.
Trading activity weakened during the session, with total volume traded falling by 31.33 per cent to 559.98 million shares, valued at N19.26 billion across 49,676 deals. Secure Electronic Technology led the volume chart with 59.69 million shares, accounting for 10.66 per cent of total trades, while Zenith Bank dominated the value chart with transactions worth N2.47 billion, representing 12.84 per cent of the total market value.
The pre-holiday sell-off reflects typical market behaviour as investors adjust portfolios ahead of extended breaks, though the overall year-to-date performance remains strong.
