The Nigerian stock market continued its downward trend for the third consecutive day, with investors losing over ₦500 billion due to sustained sell-offs and weak market sentiment.
Market Decline and Key Losers
By the end of trading on Wednesday, March 19, 2025, the market capitalization had fallen to ₦65.789 trillion, down from ₦66.352 trillion at the start of the week—representing a 0.98% drop in three days. On Wednesday alone, the market shed ₦200 billion, with the All-Share Index (ASI) declining from 105,360.19 points to 104,915.13 points.
The losses were largely driven by declines in major stocks, including MRS Oil Nigeria Plc, Livestock Feeds, E-Tranzact, and Coronation Insurance, which suffered significant price drops.
Trading Activity Snapshot
Despite the losses, trading activity remained high, with investors executing 12,012 deals involving 1.37 billion shares valued at approximately ₦12.37 billion.
Biggest Decliners
- Livestock Feeds Plc: Dropped 10.00%, from ₦9.40 to ₦8.46 per share.
- E-Tranzact International Plc: Fell 9.40%, from ₦5.85 to ₦5.30 per share.
- Wapic Insurance Plc: Declined 9.27%, from ₦2.59 to ₦2.35 per share.
- MRS Oil Nigeria Plc: Dropped 8.99%, from ₦178.00 to ₦162.00 per share.
- May & Baker Nigeria Plc: Fell 8.05%, from ₦8.70 to ₦8.00 per share.
Top Gainers
Amid the downturn, a few stocks managed to post gains:
- Julius Berger Nigeria Plc: Increased by 8.47%, from ₦126.30 to ₦137.00 per share.
- Omatek Ventures Plc: Rose 6.15%, from ₦0.65 to ₦0.69 per share.
- UPDC Plc: Gained 2.69%, from ₦2.97 to ₦3.05 per share.
- Wema Bank Plc: Increased 2.43%, from ₦10.30 to ₦10.55 per share.
- Unilever Nigeria Plc: Gained 2.12%, from ₦37.70 to ₦38.50 per share.
Most Traded Stocks by Volume
- Sovereign Trust Insurance Plc: 1.01 billion shares traded, worth ₦989 million.
- Fidelity Bank Plc: 42.8 million shares exchanged, valued at ₦723 million.
- Access Holdings Plc: 30.6 million shares, worth ₦698 million.
- Jaiz Bank Plc: 23.9 million shares, valued at ₦85 million.
- Zenith Bank Plc: 21.6 million shares traded, worth ₦1.02 billion.
Investor Concerns and Market Outlook
The persistent bearish trend has raised concerns among investors, with analysts citing profit-taking activities, weak economic indicators, and global market uncertainties as factors contributing to the downturn.
Despite the losses, analysts remain hopeful that bargain-hunting activities and possible market interventions could help stabilize stock prices in the coming weeks.
Upcoming Government Bond Auction
In related news, the Debt Management Office (DMO) has announced plans to auction ₦300 billion worth of Federal Government Bonds starting March 24, 2025. These bonds, priced at ₦1,000 per unit, are expected to attract investors looking for more stable and secure investment options amid stock market volatility.
As the market navigates its current challenges, investors will be watching closely for any policy interventions or economic developments that could restore confidence and drive a rebound in stock prices.
