Nigeria’s equities market took a breather on Friday, as the All-Share Index (ASI) fell by 0.56% to close at 145,756.50 points, snapping a remarkable 22-day winning streak. The drop, amounting to 815.80 points, saw the market capitalization decline by approximately ₦500 billion, from ₦92.7 trillion to ₦92.2 trillion.
Despite the overall market pullback, CHAMPION Breweries Plc emerged as the day’s standout performer, topping the gainers’ chart alongside Union Dicon Salt Plc and Universal Insurance Plc, each advancing by the maximum allowable 10%. Guinness Nigeria Plc and AXA Mansard Insurance Plc followed closely with gains of 9.99% apiece.
On the downside, Abbey Mortgage Bank Plc led the laggards with a 9.87% loss, trailed by Custodian Investment Plc, which shed 8.48%.
Trading activity was robust, with investors exchanging 2.2 billion shares, up from 1.98 billion the previous session, indicating heightened participation despite the index dip.
Market analysts note that the ASI’s retreat is a natural pause after an extended bullish run, with sentiment still broadly positive and the index holding well above the 145,000-point threshold. Barring unforeseen headwinds, a rebound could materialize in the coming sessions as bargain hunters take positions.
