SAT JUNE 06 2026-theGBJournal| Nigeria’s benchmark stock index posted its steepest weekly decline in months as investors took profits in some of the market’s largest and most influential companies, dragging down year-to-date returns despite a modest rebound in Friday’s trading session.
The Nigerian Exchange (NGX) All-Share Index fell 3.11% over the week to close at 242,593.31 points, extending recent weakness in the market.
The decline trimmed the benchmark’s year-to-date gain to 55.90%, from 60.90% a week earlier, while total market capitalization shrank by 3.06% to N155.59 trillion, wiping out approximately N4.9 trillion in investor wealth.
The downturn was largely driven by sustained selloffs in heavyweight stocks, including MTN Nigeria Plc, which lost 5.49% during the week, BUA Foods Plc, down 2.90%, Guaranty Trust Holding Company Plc, which declined 1.68%, and Zenith Bank Plc, which shed 2.36%.
The losses outweighed gains recorded in selected counters such as Access Holdings Plc, which advanced 3.95%, Dangote Sugar Refinery Plc, up 1.19%, Wapic Insurance Plc, which gained 2.62%, and Honeywell Flour Mills Plc, which added 0.82%.
Despite the weak weekly performance, the market ended Friday’s session on a positive note. The All-Share Index and market capitalization both advanced 0.15% as bargain hunters returned to selected stocks following several sessions of declines.
ABBEY Mortgage Bank Plc led gainers with a 10.00% rise, while Sovereign Trust Insurance Plc climbed 8.70%. PZ Cussons Nigeria Plc gained 8.14%, Transnational Corporation Plc rose 6.74%, and Jaiz Bank Plc added 5.88%.
Their advances offset losses in Academy Press Plc, which dropped 9.84%, UPL Plc, down 9.73%, Africa Prudential Plc, which declined 2.63%, Chams Holding Company Plc, down 2.44%, and International Breweries Plc, which shed 1.59%.
Trading activity, however, reflected cautious investor sentiment.
Total volume traded declined by 7.17% from the previous session, while the value of transactions fell sharply by 38.50%, indicating reduced market participation despite the rebound in share prices.
ABBEY Mortgage Bank emerged as the most actively traded stock by volume, with 164.08 million shares exchanged, underscoring strong speculative interest. Seplat Energy Plc topped the value chart after investors traded shares worth N9.73 billion.
Market breadth remained firmly positive, with advancing stocks outnumbering decliners by a ratio of 2.64 to 1. A total of 37 equities closed higher compared with 14 losers.
International Energy Insurance Plc posted the maximum allowable daily gain of 10.00% to emerge as the session’s best performer, while Academy Press recorded the steepest decline.
Meanwhile, the NASD Over-the-Counter Securities Exchange ended the session in negative territory, highlighting broader weakness across segments of the domestic equity market.
The NASD Security Index declined 0.86% to 4,358.32 points, while market capitalization fell by the same margin to N2.61 trillion. Trading activity was subdued, with total volume traded plunging 50.00% and transaction value declining 16.53%.
On the NASD performance table, Central Securities Clearing System Plc recorded the market’s only gain, edging up 0.08%. MRS Oil Nigeria Plc led decliners with an 11.11% loss, contributing to the bearish close for the alternative trading platform.
The contrasting performances between Friday’s rebound and the broader weekly decline underscore lingering investor caution as market participants continue to rebalance portfolios after the strong rally that has characterized Nigerian equities for much of the year.
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