Resuming from the Eid-el-Kabir holidays, the Nigerian stock market yesterday closed on a downturn as market capitalisation plunged by N377 billion, amid selloffs in Aradel Holdings Plc and 24 stocks.

As a result, the all-share index (ASI) declined by 599.27 points, representing a loss of 0.52 per cent to close at 114,017.48 points. Also, market capitalisation lost N377 billion to close at N71.898 trillion.

The downturn was driven by price depreciation in large and medium capitalised stocks amongst which are Aradel Holdings, Beta Glass, MTN Nigeria Communications (MTNN), Access Holdings and John Holt.

Looking forward, United Capital Plc said: “The equities market might be mildly positive leading to a slight gain in the ASI. This is hinged on the market benefiting from the spillover effect of excess liquidity in the financial system. “Similarly, investors might start positioning for Q2-earning season in June, favoring corporates with FX gains, cost control, clear growth trajectory and those with potentials for quality interim dividend payment.”

The research firm expected retail investors to continue to take profit from previous week’s gains, tactically slowing the upward movement of the equities market, adding: “Thursday, July 12, 2025 might be declared as public holiday to mark the Democracy Day”.

“This will reduce the total trading days for the week to three, impacting investors participation level in the market. We advise investors to cherry pick fundamentally sound stocks with potential for interim dividend payment,” it stated.

Investor sentiment, as measured by market breadth closed positive as 35 stocks advanced, while 25 declined. Berger Paints Nigeria, DAAR Communications and eTranzact International emerged the highest price gainer of 10 per cent each to close at N22.55, 66 kobo.

Legend Internet followed with a gain of 9.93 per cent to close at N5.87 kobo while Omatek Ventures up by 8.22 per cent to close at 79 kobo. On the other side, R.T. Briscoe Nigeria led others on the losers’ chart with 10 per cent to close at N2.25 kobo. John Holt followed with a decline of 9.87 per cent to close at N6.85 kobo while Beta Glass shed 9.69 per cent to close at N210.10 kobo.

Aradel Holdings went down by 9.09 per cent to close at N500, while Deap Capital Management and Trust depreciated by 8.16 per cent to close at 90 kobo.
Meanwhile, the total volume of trade dipped by 55.4 per cent to 652.637 million units, valued at N18.875 billion, and exchanged in 23,978 deals. Transactions in the shares of Access Holdings led the activity with 88.297 million shares worth N1.971 billion.

Zenith Bank followed with account of 49.33 million shares valued at N2.519 billion, while Guaranty Trust Holding Company (GTCO) traded 47.25 million shares valued at N3.342 billion.

Fidelity Bank traded 42.925 million shares worth N844.839 million, while Wapic Insurance traded 34.998 million shares worth N70.562 million.