The Nigerian stock market experienced a significant downturn this week, shedding N476.0bn as trading activity reflected cautious investor sentiment. During the period, a total of 1.818bn shares were exchanged in 64,222 deals, amounting to a transaction value of N47.226bn. This marks a slight decline from the previous week, when 1.848bn shares worth N51.387bn were traded in 63,090 deals.
Market capitalisation fell by 0.71% to N66.717tn, while the All-Share Index dipped by 1.19%, closing at 106,538.60 points—a clear indication of broad-based declines across the major indices.
In terms of sector performance, the Financial Services Industry continued to dominate trading activity, accounting for 69.31% of the total share volume and 58.90% of the transaction value, with 1.260bn shares worth N27.817bn traded in 29,800 deals. The consumer goods and services sectors also contributed to the overall market activity, with notable volumes and deal counts.
Among individual stocks, Zenith Bank Plc, Fidelity Bank Plc, and Access Holdings Plc emerged as the most actively traded, collectively representing 451.558m shares and a market value of N13.583bn in 10,055 deals. These figures accounted for nearly 25% of the total turnover by volume and over 28% by value.
Other segments of the market also saw notable activity. A total of 56,372 Exchange Traded Products (ETPs) were traded in 99 deals, while bond transactions, although lower compared to the previous week, recorded 73,802 units worth N75.768m in 31 deals.
Market breadth remained mixed with 30 equities advancing, 58 declining, and 62 remaining unchanged—reflecting a cautious yet uneven trading environment. Despite these declines, the ASeM and Commodity indices posted modest gains of 0.04% and 0.19% respectively, suggesting that some pockets of the market managed to resist the overall trend.
Adding a silver lining, renewed investor interest has begun to emerge. The Nigerian Exchange recorded its first gain in March, with market capitalisation rising by N216bn—a sign that some investors are starting to view the current market conditions as a buying opportunity.
As investors continue to navigate the uncertain terrain, market participants remain watchful for further economic signals and policy updates that could shape the outlook for Nigerian equities.
