The NGX All-Share Index declined by 177.38 points, representing a 0.18% decrease, and closed at 98,050.12. Market capitalization also decreased by 0.18%, settling at 59.43 trillion Nigerian Naira. Despite this daily setback, the ASI still holds a one-week gain of 0.84%, a four-week loss of 1.15%, and a year-to-date increase of 31.13%.
According to exchange data, a total of 467.68 million shares worth N9.59 billion were traded across 10,659 transactions during the session. This reflects a 26 percent increase in trading volume, a 14 percent rise in turnover, and a 6 percent uptick in the number of deals compared to the previous day.
In total, 127 listed companies were active in trading, with 35 stocks gaining and 25 losing value. Austin Laz & Company topped the gainers, rising by 10 percent to close at N2.42 per share. Other notable gainers included Eunisell Interlinked (+9.98 percent), Haldane McCall (+9.95 percent), and Honeywell Flour Mill (+9.93 percent).
On the downside, Wapic Insurance led the decliners with a 9.82 percent drop, closing at N1.01 per share. It was followed by University Press (-9.09 percent), Sovereign Trust Insurance (-8.96 percent), and Universal Insurance Company (-8.82 percent).
FBN Holdings had the highest trading volume, with 51.1 million shares traded, followed by Tantalizers (48.8 million), Lafarge Wapco (39.7 million), and Fidelity Bank (26.6 million).
Other significant indices showed mixed results. The Top 30 Index decreased by 0.18 percent, bringing its year-to-date gain to 32.25 percent. The Consumer Goods Index increased by 0.39 percent for the day, resulting in a year-to-date rise of 41.67 percent. The Insurance Index grew by 0.26 percent, reflecting a year-to-date increase of 48.21 percent, while the Industrial Index gained 0.21 percent, achieving a year-to-date increase of 29.81 percent.
The Main Board Index experienced a decline of 0.16 percent, while the Premium Index decreased by 0.21 percent. Nevertheless, both indices maintained year-to-date increases of 37.22 percent and 28.35 percent, respectively.
Analysts observed that profit-taking among investors, particularly in several large-cap stocks, played a role in the day's losses, despite a rise in trading activity.
On Wednesday, the Nigerian equity market saw a gain of N167 billion, driven by the performance of AustinLaz & Company, Tantalizers, Wapco, and other gainers. The All-Share Index and market capitalization increased by 0.26 percent, closing at 98,227.50 points and N59.5 trillion, respectively.