Lagos, Nigeria – The Nigerian All-Share Index extended its losing streak to a fourth consecutive session, declining by 0.38 percent to close at 192,826.8 points and slipping below the 193,000-mark.
A total of 741.1 points were lost from the previous close of 193,567.8, as a 6.09 percent drop in Dangote Cement weighed heavily on the benchmark index.
Okay News reports that trading activity also slowed, with total volume falling to 823 million shares compared to 868 million shares exchanged in the prior session. Market capitalization declined to N123.7 trillion across 63,759 deals from N124.2 trillion a day earlier.
Aradel and Zenith Bank each recorded over N7.1 billion in traded value. The year-to-date return eased to 23.91 percent, down from 24.39 percent in the previous session.
Buying interest was selective among gainers, with Sovereign Trust Insurance and RT Briscoe leading the advance, rising 9.95 percent and 9.93 percent respectively.
On the flip side, profit-taking pressure dragged down Mecure and Meyer, which declined by 9.97 percent and 9.90 percent.
In trading activity, Fortis Global Insurance led by volume with 146.6 million shares exchanged, followed by Zenith Bank at 79.3 million and Japaul Gold at 57.1 million.
Among SWOOTs, stocks with market capitalisation above N1 trillion, performance tilted largely to the downside with BUA Foods gaining 0.3 percent while Dangote Cement declined sharply by 6.09 percent.
Within the FUGAZ banking group, UBA advanced 2.95 percent, Zenith Bank gained 2.25 percent, and Access Holdings rose 1.15 percent, while First HoldCo and GTCO slipped marginally.
The day’s decline was driven mainly by losses in large-cap stocks, with lower trading volume reflecting subdued investor activity.
This extended stock market decline reflects cautious sentiment across major counters. If the downward trend persists, the stock market decline could deepen depending on continued sell pressure.
