By Seun Ibiyemi
The Nigerian stock market closed on a bearish note on Thursday, shedding N3 billion in market value as investors engaged in mild profit-taking across key equities.
Market performance was dragged down by sell-offs in stocks such as John Holt, Abbey Mortgage Bank, International Energy Insurance, CHAMS, and Tantalizers, among others.
At the close of trading, market capitalisation dipped marginally by 0.002 per cent to N129.806 trillion, down from N129.809 trillion recorded at the opening of the session.
Similarly, the All-Share Index declined by 4.66 points, representing a 0.002 per cent drop, to settle at 201,698.89 compared to 201,703.55 posted previously.
Despite the downturn, the market maintained a strong Year-to-Date return of 29.62 per cent, reflecting sustained investor confidence over the longer term.
Market breadth, however, closed on a positive note, with 34 gainers outperforming 24 losers, indicating selective buying interest in certain stocks.
Among the top gainers, Unilever led with a 10 per cent increase to close at N103.40 per share. Fortis Global Insurance rose by 9.82 per cent to N1.23, while Multiverse Mining advanced by 9.81 per cent to N20.15 per share.
Also, Legend Internet gained 9.38 per cent to close at N6.30, while Zichis Agro Allied Industries appreciated by 9.02 per cent to N14.14 per share.
On the flip side, John Holt recorded the highest loss, declining by 9.91 per cent to close at N15.45 per share.
Abbey Mortgage Bank followed with a 9.60 per cent drop to N8.95, while International Energy Insurance fell by 6.48 per cent to N3.32.
CHAMS shed 5.30 per cent to close at N3.75, while Tantalizers declined by 5.18 per cent to N4.03 per share.
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Trading activity weakened during the session, with total volume traded dropping by 31.33 per cent to 559.98 million shares. The volume of shares exchanged was valued at N19.26 billion across 49,676 deals.
Secure Electronic Technology dominated the volume chart with 59.69 million shares, accounting for 10.66 per cent of total trades, while Zenith Bank led the value chart with transactions worth N2.47 billion, representing 12.84 per cent of the day’s total traded value.
