THUR JULY 16 2026-theGBJournal| Nigerian equities closed marginally lower on Thursday as a sharp decline in BUA Cement weighed on the benchmark index, overshadowing gains in banking stocks and leaving the market with a broadly positive investor sentiment despite the downturn.
The Nigerian Exchange (NGX) All-Share Index (ASI) fell 0.1% to close at 242,145.61 points, dragged lower by losses in BUA Cement (-10.0%), CAP (-9.6%) and Transcorp (-0.8%).
Despite the decline, the market remained firmly in positive territory, with the month-to-date return at 5.6% and the year-to-date gain at 55.6%, underscoring the strength of the broader rally in 2026.
Trading activity eased during the session as investors adopted a more cautious stance.
Total volume traded declined 10.0% to 498.45 million shares, worth ₦34.87 billion, across 39,484 deals.
JapaulGold emerged as the most actively traded stock by volume, with 77.66 million shares changing hands, while Seplat Energy led the market by value, accounting for ₦13.19 billion in transactions.
Sectoral performance was mixed, reflecting selective investor positioning.
The Industrial Goods Index dropped 2.9%, largely due to the steep decline in BUA Cement, while the Banking Index climbed 2.9% on renewed buying interest.
The Consumer Goods Index gained 0.3%, the Insurance Index rose 0.2%, and the Oil and Gas Index edged 0.1% higher.
Market breadth remained positive, indicating that buying interest was broader than the benchmark index suggested.
Twenty-seven stocks advanced, compared with 20 decliners, resulting in a positive market breadth ratio of 1.4x.
BUA Cement and CAP topped the losers’ chart after shedding 10.0% and 9.6%, respectively, while First HoldCo surged 10.0% to lead the gainers, followed by McNichols, which rose 8.0%.
In the foreign exchange market, the naira weakened slightly, with the official exchange rate depreciating 0.1% to ₦1,385.00 per U.S. dollar, extending recent fluctuations in the currency market.
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