The Nigerian stock market closed the week on a mildly negative note as the All-Share Index (ASI) fell by 0.32% on Friday, reflecting persistent cautious sentiment across key sectors despite a rebound in trading activity. The benchmark index shed 464.41 points to close at 143,722.62, down from the previous day’s level of 144,187.03.
The dip in the index, though modest, reinforces the market’s struggle to regain upward momentum after several sessions of mixed performance. Nonetheless, investor participation improved significantly, with total trading volume nearly doubling compared to the previous session. The market recorded 656.9 million shares, a sharp increase from the 349.2 million shares exchanged on Thursday, highlighting renewed interest—particularly in banking stocks.
Equity market capitalization weakened in tandem with the index, falling from N91.7 trillion to N91.4 trillion, marking a day-on-day loss in market value. This decline reflects broad-based selling among mid- and large-cap equities, although pockets of bullish activity helped cushion deeper losses.
Several stocks displayed strong resilience. NCR led the gainers’ table with a 9.89% rise to close at N41.10, followed closely by IKEJAHOTEL, which appreciated by 9.74% to finish at N20.85. Other notable gainers included NEIMETH (+9.09%), MAYBAKER (+8.60%), and REGALINS (+6.60%). Their performance represented selective investor optimism in specific sectors such as healthcare, hospitality, and insurance.
Conversely, the losers’ chart was dominated by aggressive selloffs. RTBRISCOE declined by 10.00%, settling at N3.15, while LEGENDINT followed with a 9.93% drop to N5.26. INTENEGINS, NAHCO, and LINKASSURE also posted steep losses, each shedding between 9.68% and 9.79%. These declines highlight sustained volatility among small- and mid-cap counters, many of which have experienced significant price swings in recent weeks.
In terms of market activity, ACCESSCORP topped the volume chart with an impressive 128.6 million shares traded, reflecting strong investor interest in the stock despite its price decline during the session. ZENITHBANK followed with 91.5 million shares, while UACN, buoyed by intensified interest following its acquisition announcements, recorded 74.3 million shares. GTCO and FIDELITYBK rounded out the top five busiest counters with 48.4 million and 37.7 million shares, respectively.
On the value side, ZENITHBANK led the market with transactions worth N5.4 billion, reaffirming its strong liquidity and investor appeal. UACN came close with N5.1 billion, reflecting heightened activity linked to its strategic expansion plans. GTCO posted N4 billion in traded value, while ACCESSCORP and STANBIC recorded N2.6 billion and N1.6 billion, respectively.
Among the SWOOTs (Stocks Worth Over One Trillion), performance was mixed. MTNN fell by 2.11%, while ARADEL posted a 1.43% decline. Within the FUGAZ banking group, ACCESSCORP slid 2.38%, UBA dipped 0.27%, and ZENITHBANK edged lower by 0.17%. However, FIRSTHOLDCO gained 1.66%, and GTCO rose 0.60%, helping to temper broader losses in the sector.
Looking ahead, analysts warn that bearish sentiment may persist, particularly if macroeconomic uncertainties continue weighing on investor confidence. However, a strong rebound in mid- and large-cap stocks could help the market reclaim the 150,000-point threshold in the near term. Investors will be closely watching corporate disclosures, policy signals, and liquidity flows as potential catalysts for a renewed upward trend.
