The decline represents a 0.69% drop from the previous close of 202,559.6, pushing the index below the 202,000 threshold and signalling weakening market momentum. Market capitalisation also fell to N129.1 trillion from N130 trillion recorded in the prior session, despite sustained trading activity across 58,562 deals.
Market sentiment weakens despite strong activity
Investor sentiment softened during the session, trimming the market’s year-to-date return to 29.27% as portfolio adjustments and profit-taking weighed on key equities.
Despite the broader downturn, pockets of buying interest remained. Secure Electronic Technology Plc and Guinness Nigeria Plc led the gainers’ chart, rising by 10.00% and 9.92%, respectively. Other notable advancers included John Holt Plc, Sovereign Trust Insurance Plc, and Linkage Assurance Plc.
On the losing side, profit-taking pressures dragged down Red Star Express Plc and Aradel Holdings Plc, which declined by 9.98% and 9.68%, respectively. Other laggards included Presco Plc, LivingTrust Mortgage Bank Plc, and DAAR Communications Plc.
ETranzact dominates record trading volume
Trading volume surged significantly, with total transactions hitting a record 6.06 billion shares—up sharply from 1.7 billion shares in the previous session.
ETranzact International Plc accounted for the bulk of activity, recording 5.1 billion shares traded and contributing more than 85% of total market volume. Other heavily traded stocks included Wema Bank Plc, Coronation Insurance Plc, Dangote Cement Plc, and Access Holdings Plc.
In terms of value, Dangote Cement Plc led with N56.4 billion worth of trades, followed by ETranzact at N24.2 billion. MTN Nigeria Communications Plc, Nestlé Nigeria Plc, and Zenith Bank Plc also recorded significant transaction values.
Mixed performance among blue chips and banks
Among SWOOTs—stocks with market capitalisations above N1 trillion—performance was largely negative. Aradel recorded the steepest drop, while Nigerian Breweries Plc and MTN Nigeria also posted mild declines.
However, Lafarge Africa Plc gained 3.42%, while International Breweries Plc edged up slightly.
Within the FUGAZ banking group, First Holdco Plc emerged as the sole gainer, rising 1.92%. In contrast, Guaranty Trust Holding Company Plc (GTCO) fell sharply by 7.41%, while United Bank for Africa Plc (UBA) and Zenith Bank Plc also recorded losses.
Outlook
Although the market closed lower, the surge in trading volume highlights sustained investor engagement, particularly in high-activity stocks such as ETranzact. The Nigerian equities market, now valued at approximately N129 trillion, continues to show signs of expansion despite short-term volatility.
Analysts note that continued portfolio rotation and profit-taking could shape near-term market direction, even as underlying investor interest remains strong.