The Nigerian stock market closed lower for the third consecutive week as bearish sentiment persisted across key sectors.
The All-Share Index (ASI) slipped 0.50% to 140,295.50 points, while market capitalization dropped by ₦439 billion to ₦88.76 trillion. Trading volume also declined to 3.2 billion shares worth ₦85.4 billion, down from 4.8 billion shares valued at ₦107.4 billion the previous week.
Losses were broad-based, with the Banking Index down 1.21%, Insurance –1.02%, and Consumer Goods –0.89%. The NGX Premium Index also fell 0.75%, dragged by Zenith Bank, Lafarge, and AccessCorp.
Notable gainers included McNichols Plc (+18.75%), NEM Insurance (+17.29%), and Berger Paints (+15.31%), while top losers were Secure Electronic Technology (–22.73%) and Guinea Insurance (–19.77%).
Analysts expect mixed performance in the near term. United Capital noted sentiment could improve if interest rates ease and the naira stabilizes, while Cowry Asset Management sees bargain-hunting opportunities in oversold consumer goods and insurance stocks.