FRI JUNE 05 2026-theGBJournal| Nigeria’s equities market extended its losing streak on Thursday, with broad-based selling in energy and industrial stocks pushing the benchmark index lower and eroding more than half a trillion naira in investor wealth.
The Nigerian Exchange All-Share Index (ASI) fell 0.37% to close at 242,227.31 points, trimming the market’s year-to-date return to 55.66% from 56.24% in the previous session.
Market capitalization declined by N580.65 billion to N155.36 trillion as investors continued to lock in gains following the market’s strong rally earlier in the year.
The downturn was driven primarily by steep declines in heavyweight and mid-cap counters, including ARADEL Plc, which lost 9.51%, UAC of Nigeria Plc, down 4.43%, McNichols Plc, which shed the maximum daily limit of 10.00%, and Eterna Plc, which dropped 9.85%.
The losses outweighed gains recorded in First HoldCo Plc, which advanced 6.70%, Lafarge Africa Plc, up 3.93%, DEAP Capital Management & Trust Plc, which gained 5.26%, and Nigerian Exchange Group Plc, which rose 4.54%.
Trading activity weakened significantly, highlighting a more cautious investor mood. Total volume traded declined 36.24% from the previous session, while the value of transactions fell 34.05%, suggesting reduced participation across the market.
Access Holdings Plc emerged as the most actively traded stock by volume, with 109.72 million shares changing hands, underscoring continued investor interest in banking counters. Nigerian Exchange Group led the value chart after investors exchanged shares worth N3.89 billion during the session.
Market breadth remained negative, reflecting the bearish undertone. Thirty-one stocks closed lower compared with 25 gainers, resulting in a market breadth ratio of 0.81x.
International Energy Insurance Plc topped the gainers’ chart with a 10.00% advance, while McNichols Plc led the decliners after shedding 10.00%.
The weak performance in the equities market mirrored subdued risk appetite among investors, who continue to reassess valuations amid shifting liquidity conditions and profit-taking activities across several high-performing stocks.
Meanwhile, the NASD Over-the-Counter (OTC) Securities Exchange also ended the session in negative territory, surrendering part of the gains accumulated earlier in the week.
The NASD Security Index (NSI) fell 1.13% to 4,396.08 points, while market capitalization declined by the same margin to N2.63 trillion.
Trading activity on the OTC platform weakened sharply, with total volume traded dropping 46.76% and transaction value plunging 66.52%, reflecting a notable slowdown in investor participation.
On the performance table, Afriland Properties Plc led gainers with a 4.76% increase, while FrieslandCampina WAMCO Nigeria Plc recorded the steepest decline, falling 10.52% to emerge as the session’s worst-performing stock.
The simultaneous decline across both the Nigerian Exchange and the NASD market signals growing investor caution as participants balance profit-taking opportunities against expectations for corporate earnings and macroeconomic developments in the second half of the year.
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