Investors on the Nigerian stock market lost N983 billion on Friday as sustained sell-offs in major stocks extended the bearish trend on the Nigerian Exchange Ltd. (NGX).
Heavy profit-taking in Aradel Holdings, International Energy Insurance, Trans-Nationwide Express, E-Tranzact International and UPDC dragged the market lower, erasing nearly N1 trillion from investors’ portfolios in a single trading session.
At the close of trading, the NGX market capitalisation declined by 0.66 per cent, falling from N149.888 trillion on Thursday to N148.905 trillion.
Similarly, the All-Share Index (ASI) shed 1,531.81 points, or 0.66 per cent, closing at 232,049.02, compared with 233,580.83 recorded in the previous session.
Despite the decline, the market’s year-to-date return remained positive at 49.12 per cent, although it moderated from the previous level.
Investor sentiment remained largely bearish, with 38 stocks posting losses against 13 gainers, reflecting widespread selling pressure across key sectors.
Aradel Holdings led the losers’ table after shedding 10 per cent to close at N1,417.50 per share. International Energy Insurance lost 9.95 per cent to settle at N5.79, while Trans-Nationwide Express declined 9.89 per cent to N3.28 per share.
E-Tranzact International also dropped 9.79 per cent to N14.75, while UPDC fell 9.72 per cent to close at N3.25 per share.
On the gainers’ chart, Universal Insurance appreciated by 6.32 per cent to close at N1.01 per share. McNichols Plc gained 5.52 per cent to N8.60, while Linkage Assurance advanced 4.67 per cent to settle at N1.57 per share.
Among other notable stocks, NGX Group declined 4.35 per cent to close at N120, while Transcorp lost 3.62 per cent, ending the session at N41.50 per share.
Trading activity also weakened during the session. Total volume traded fell by 1.26 per cent to 388.69 million shares worth N18.43 billion, exchanged in 44,631 deals.
Access Holdings Plc emerged as the most actively traded stock by volume, accounting for 33.22 million shares, representing 8.55 per cent of the day’s total transactions.
Meanwhile, Aradel Holdings dominated the value chart with trades worth N4.29 billion, representing 23.29 per cent of the total value exchanged during the session.
The market’s performance reflects continued investor profit-taking in high-capitalisation stocks, extending the cautious sentiment that has characterised recent trading sessions.
