Bears Retain Grip As NGX Extends Weak Run, Investors Lose ₦73bn

June 11 (THEWILL) — The Nigerian stock market closed lower on Thursday, as persistent profit-taking in select equities offset gains recorded in several counters, leaving the benchmark index and market capitalisation in negative territory.

Market capitalisation declined by ₦73 billion to close at ₦156.969 trillion, down from ₦157.042 trillion at the previous session’s close. Similarly, the All-Share Index (ASI) shed 113.47 points to settle at 244,738.74, compared with 244,852.21 recorded on Wednesday.
Market breadth closed flat as investors recorded 32 gainers and 32 losers, reflecting a mixed trading session despite the overall bearish outcome.

Top Gainers
LEARNAFRCA gained 10.00 percent (to close at ₦11.00 from ₦10.00).
ENAMELWA appreciated by 10.00 percent (to ₦40.70 from ₦37.00).
UPL advanced 10.00 percent (to ₦5.50 from ₦5.00).
CONHALLPLC rose 10.00 percent (to ₦8.25 from ₦7.50).
ABCTRANS added 9.86 percent (to close at ₦7.80 from ₦7.10).

Top Decliners
INTENEGINS fell 10.00 percent (to ₦7.11 from ₦7.90).
MAYBAKER declined by 8.51 percent (to ₦43.00 from ₦47.00).
TRIPPLEG shed 8.47 percent (to close at ₦4.00 from ₦4.37).
ABBEYBDS lost 7.69 percent (to ₦11.40 from ₦12.35).
MANSARD depreciated by 6.67 percent (to ₦12.60 from ₦13.50).

Meanwhile, heavyweight stocks, including Dangote Cement Plc, Custodian Investment Plc, Julius Berger Nigeria Plc, Champion Breweries Plc and Vitafoam Nigeria Plc closed unchanged for the session.

The market’s marginal decline suggests investors remain cautious amid ongoing portfolio rebalancing and profit-taking activities. However, the equal number of gainers and losers points to selective bargain hunting, which could provide support for the market in the coming sessions if buying interest strengthens across key sectors.

Ogochukwu Onwaeze, THEWILL

Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.