The Nigerian equity market sustained its downward trend on Thursday, experiencing a loss of N65 billion. The All Share Index (ASI) decreased by 0.12%, closing at 95,718.05 points, while market capitalization fell to N54.98 trillion.
The year-to-date return dipped to 28.74%, with the month-to-date and week-to-date returns also slipping to -2.05% and -1.36%, respectively.
Despite the market decline, trading volume saw a 9% increase, with 393.6 million shares worth N5.85 billion exchanged across 8,243 deals. However, there was a 19% drop in turnover and a 6% decrease in the number of deals.
In terms of stock performance, **Skye Shelter Fund** led the gainers with a 10% rise, closing at N122.65 per share. **Academy Press** and **Oando** followed closely, each gaining 10% and 9.99%, respectively.
Conversely, **Transcorp Hotels** suffered the steepest decline, dropping 10% to N90 per share. **Chams**, **Eterna**, and **Ikeja Hotel** also recorded significant losses, with declines of 9.72%, 9.55%, and 9.09%, respectively.
**Universal Insurance Company** recorded the highest trading volume, with 68.2 million shares changing hands, followed by **Chams** with 33.8 million shares, **Oando** with 29.8 million shares, and **Transcorp Nigeria** with 28.1 million shares.
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This continued decline indicates cautious investor sentiment amid prevailing market conditions.
