DANGCEM, Aradel, BUA Foods and FirstHoldCo lead weekly losses as investors reduce exposure to major stocks following the earnings season.
The Nigerian equities market closed the trading week on a bearish note, as sustained profit-taking across major stocks dragged the benchmark All-Share Index (ASI) lower by 2.1 per cent to 248,868.25 points.
The decline reflected renewed selling pressure in several large-cap stocks, particularly in the industrial goods, oil and gas, consumer goods and banking sectors, as investors continued to lock in gains following the market’s strong performance in previous months.
Dangote Cement recorded the steepest impact among the major decliners, falling by 8.5 per cent during the week.
Other significant losses were recorded in Aradel Holdings, which declined by 10.0 per cent, BUA Foods (-8.0 per cent), HBMNG (-9.7 per cent) and FirstHoldCo (-7.9 per cent).
The losses among these bellwether stocks weighed heavily on overall market performance, resulting in a moderation of the market’s month-to-date and year-to-date returns to negative 0.9 per cent and positive 59.9 per cent, respectively.
Market activity also weakened considerably during the period, with trading volume and transaction value declining by 64.2 per cent and 68.7 per cent week-on-week, respectively, indicating reduced investor participation amid prevailing market uncertainty.
Sectoral performance was broadly negative, as the Industrial Goods Index declined by 4.4 per cent, followed by the Oil and Gas Index, which fell by 3.7 per cent.
The Banking Index also shed 2.5 per cent, while the Consumer Goods Index declined by 1.4 per cent. The Insurance Index, however, closed the week unchanged.
The latest performance suggests that investors are becoming more selective following the strong rally recorded in the domestic equities market, with profit-taking concentrated in stocks that had previously delivered substantial capital appreciation.
Looking ahead, buying interest is expected to improve modestly in the coming week, supported by bargain-hunting activities as investors reposition their portfolios following the conclusion of the nine-month 2026 earnings season.
However, investment decisions are likely to remain concentrated in fundamentally strong companies and stocks with attractive corporate actions, as market participants assess earnings performance and future growth prospects.
