Nigerian Stocks Slip N3bn as 24 Firms Drag Market Down Ahead of Easter

The Nigerian equities market closed lower on Thursday as sell-offs in 24 listed firms erased approximately N3 billion in market value. Market capitalization fell 0.002 percent to N129.806 trillion from N129.809 trillion, while the All-Share Index dropped 4.66 points (0.002 percent) to settle at 201,698.89.

Key losers included John Holt Plc, which fell 9.91 percent to N15.45 per share, alongside Abbey Mortgage Bank, International Energy Insurance, CHAMS, and Tantalizers. Unilever Nigeria Plc led gainers with a 10 percent rise to N103.40 per share, followed by Fortis Global Insurance, Multiverse Mining, Legend Internet, and Zichis Agro Allied Industries. Market breadth stayed positive with 34 gainers versus 24 losers.

Trading activity weakened significantly as total volume fell 31.33 percent to 559.98 million shares, valued at N19.26 billion across 49,676 deals. Secure Electronic Technology led volume, while Zenith Bank dominated value.

Despite the minor dip, the market maintains a robust year-to-date return of 29.62 percent. The reduced trading volume likely reflects seasonal holiday lulls rather than fundamental weakness.

With the market still up nearly 30 percent YTD despite Thursday's pullback, is this temporary profit-taking or a signal to reassess your portfolio positioning?

SOURCE: https://dailypost.ng/2026/04/03/easter-24-firms-drag-nigerian-stocks-to-n3bn-loss/