The Nigerian equities market closed lower for the second consecutive week, with the NGX All-Share Index falling 0.97% to 248,363.55 points. Market capitalization dropped by approximately N1.58 trillion to N161.26 trillion. The week was characterized by weak market breadth, as 54 stocks depreciated against 24 gainers.

Sector performance was broadly negative, with the Industrial Goods index being the sole gainer. Livestock Feeds led the gainers with a 47.75% surge, while Critical Minerals Financing Corp was the week’s worst performer, declining 20.27%. Major corporate actions included Guinea Insurance listing new shares from a private placement, the lifting of the trading suspension on Multi-Trex Integrated Foods, and the completion of a share reconstruction by Sterling Financial Holdings. Analysts anticipate continued market caution as persistent selling pressure remains a headwind.

The Nigerian equities market faced a mid-week downturn on Wednesday as profit-taking across the banking, consumer goods, and industrial sectors wiped 648 billion naira from total market capitalization. The NGX All-Share Index fell 0.41% to 246,980.17 points, reflecting a broad-based decline with 45 losers outpacing 23 gainers. Despite the overall negative sentiment, the insurance sector remained resilient, with stocks like Lasaco Assurance, NEM Insurance, and SUNU Assurances posting significant gains. Notable laggards included NREIT, which hit a 52-week low, alongside declines in Dangote Sugar, Oando, and major banking names. Trading activity remained high, with total volume rising by 12.11%.