The downturn came in spite of stronger activity across the trading floor. Market volume surged to 885 million shares, up from 682.8 million shares the previous day, exchanged in 26,163 deals. However, market capitalisation dipped back below the N89 trillion mark, closing at N88.93 trillion, reflecting the day’s bearish sentiment.
Gainers and Losers
On the gainers’ chart, SCOA led with a maximum 10% rise to close at N6.05, followed by RTBRISCOE, which appreciated 9.80% to N3.36. Other top performers included NEM (+7.96%), NGXGROUP (+7.94%), and MCNICHOLS (+7.04%).
Conversely, INTENEGINS topped the losers’ table with a 9.62% decline to N3.29. OMATEK dropped 8.97% to N1.32, while ELLAHLAKES, ROYALEX, and SUNUASSUR fell 8.49%, 6.98%, and 6.42% respectively.
Trading Volume and Value Leaders
CHAMPION emerged as the most actively traded stock by volume with 201 million units, followed by ACCESSCORP with 102 million shares, and GTCO with 96.4 million shares. STERLINGNG (90.8 million) and FIRSTHOLDCO (46.2 million) rounded out the top five.
In terms of value, GTCO led the chart with transactions worth N8.8 billion. ARADEL followed at N3.5 billion, while CHAMPION posted N3.4 billion. ACCESSCORP and FIRSTHOLDCO recorded N2.7 billion and N1.5 billion respectively.
SWOOT & FUGAZ Performance
Among the SWOOTs (Stocks Worth Over One Trillion Naira), performance was mixed. DANGCEM edged up by 0.04%, but INTBREW (-3.85%), LAFARGE (-2.99%), NESTLE (-1.06%), and FIDELITYBK (-0.47%) all declined.
For the FUGAZ stocks, sentiment was largely negative. GTCO dropped 3.11%, ZENITHBANK shed 1.29%, UBA lost 1.41%, and ACCESSCORP fell 0.74%. FIRSTHOLDCO was the lone gainer, inching up 0.15%.
Market Outlook
Analysts note that the ASI remains in a retracement phase, with the possibility of sliding further below the 140,000 psychological mark if bearish pressure on large-cap stocks persists. Sustained sell-offs in the banking and consumer goods sectors, in particular, could deepen the decline and weigh on investor sentiment in the short term.
Year-to-date, however, the market remains positive with a +36.56% return, underscoring the resilience of equities despite intermittent bouts of profit-taking and macroeconomic headwinds.