Stock Market Falls N2.5 Trillion Over Three Days Amid Weak Sentiment

Kayode Tokede  

The Nigerian stock market closed lower yesterday, extending a losing streak that has reached N2.5 trillion over three days as investors remain cautious.

At the close of trading, the market capitalisation of listed companies was N154.445 trillion, down 1.6 percent or N2.5 trillion from the N156.97 trillion recorded at the end of last week.

The decline was mainly driven by profit‑taking in Aradel Holdings Plc and sell‑offs in Guaranty Trust Holding Company (GTCO), Zenith Bank, Dangote Sugar Refinery, and Nigerian Exchange Group, among others.

As of the close, market capitalisation had fallen by N758.2 billion due to a surge in profit‑taking in Zenith Bank Plc and 50 other stocks.

Consequently, the Nigerian Exchange Limited All‑Share Index (NGX ASI) opened this week at 244,738.74 basis points, a drop of 1.6 percent or 3,936.02 basis points, and closed at 240,802.72 basis points.

The downward trend brings the NGX ASI to 54.7 percent or 85,189.69 basis points in its year‑to‑date performance, down from 155,613.03 basis points at the end of 2025 to 240,802.72 basis points.

Speaking on the market outlook for the week, a group of analysts at Cordros Securities Limited said, “looking ahead, trading activity is likely to remain volatile as investors balance profit‑taking with selective bargain hunting. Market participants will also monitor the May inflation report expected next week, which could influence expectations for future interest rate decisions.”

Also, Cowry Assets Management Limited stated that “the Nigerian equities market is expected to maintain a cautiously positive tone in the near term, supported by sustained investor interest in fundamentally strong stocks and ongoing portfolio repositioning.”

“However, intermittent profit‑taking may trigger short‑term volatility and reinforce a stock‑selective trading environment.”

“Overall direction will likely be driven by macroeconomic developments, earnings results, and relative attractiveness versus fixed income, with gains expected to remain concentrated in high‑quality equities.”