All-Share Index declines for fourth straight trading day, loses 193,000-mark

The Nigerian All-Share Index extended its losing streak to a fourth consecutive session, declining by 0.38% to close at 192,826.8 points and slipping below the 193,000-mark.

A total of 741.1 points were lost from the previous close of 193,567.8, as a 6.09% drop in Dangote Cement weighed heavily on the benchmark index.

Trading activity also slowed, with total volume falling to 823 million shares, compared to 868 million shares exchanged in the prior session.

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Market capitalization mirrored the negative sentiment, declining to N123.7 trillion across 63,759 deals from N124.2 trillion a day earlier, with Aradel and Zenith Bank each recording over N7.1 billion in traded value.

**What the data is saying **

Market momentum remained negative, as the All-Share Index’s year-to-date return eased to 23.91%, down from 24.39% in the previous session.

Buying interest was selective among gainers, with Sovereign Trust Insurance and RT Briscoe leading the advance, rising 9.95% and 9.93%, respectively.

On the flip side, profit-taking pressure dragged down Mecure and Meyer, which declined by 9.97% and 9.90%, respectively.

In trading activity, Fortis Global Insurance led by volume with 146.6 million shares exchanged, followed by Zenith Bank at 79.3 million, JaPaul Gold at 57.1 million, Jaiz Bank at 49.5 million, and Access Holdings at 44.7 million.

By traded value, Aradel topped the chart with N7.13 billion, closely followed by Zenith Bank at N7.12 billion, while MTN, NGX Group, and Transpower recorded N2 billion, N1.69 billion, and N1.38 billion, respectively.

**Top 5 gainers **

• Sovereign Trust Insurance — up 9.95% to N2.21
• RT Briscoe — up 9.93% to N12.51
• NGX Group — up 9.78% to N124.00
• Ellah Lakes — up 9.70% to N13.00
• Omatek — up 9.70% to N2.60

**Top 5 losers **

• Mecure — down 9.97% to N75.85
• Meyer — down 9.90% to N18.65
• DAAR Communications — down 9.83% to N2.11
• Champion Breweries — down 6.49% to N18.00
• CWG — down 6.11% to N22.90

**SWOOTs and FUGAZ performance **

Among SWOOTs, stocks with market capitalisation above N1 trillion, performance tilted largely to the downside.

• BUA Foods gained 0.3%, while Wema Bank rose 0.19%.
• In contrast, Dangote Cement declined sharply by 6.09%.

Within the FUGAZ banking group, sentiment was mixed but leaned slightly positive.

• UBA advanced 2.95%, Zenith Bank gained 2.25%, and Access Holdings rose 1.15%.
• On the flip side, First HoldCo and GTCO both slipped 0.09%.

**What you should know **

The day’s decline was driven mainly by losses in large-cap stocks, particularly Dangote Cement, which fell more than 6% on the Nigerian Exchange.

Lower trading volume reflected subdued investor activity and cautious sentiment across major counters.

If the downward trend persists, the All-Share Index could face a deeper retracement, depending on the intensity of continued sell pressure.