The Nigerian Exchange Limited (NGX) sustained its bearish run on Thursday as renewed selling pressure pushed the benchmark All-Share Index lower and wiped N613.08bn off the equities market value.
The All-Share Index declined by 949.71 points, representing a 0.39 per cent loss, to close at 243,017.38 points, compared with 243,967.09 points recorded at the end of Wednesday's trading.
Consequently, the total market capitalisation of listed equities fell from the previous level to N156.88tn.
The downward movement was reflected across major sectors, with investors continuing to reduce exposure to several stocks.
The NGX Main-Board Index declined to 10,939.43 points, while the NGX 30 Index closed at 8,907.98 points. The Banking Index also weakened to 2,553.87 points.
Other sectoral indices recorded losses, with the Insurance Index falling to 1,145.85 points, Consumer Goods Index declining to 4,056.39 points and Industrial Goods Index dropping to 10,379.12 points.
The Growth Index also shed ground to close at 27,380.30 points, while the Sovereign Bond Index remained flat at 668.35 points.
Market breadth was firmly negative as decliners outnumbered advancers, underscoring the cautious mood among investors.
Despite the weak performance of the benchmark index, trading volume remained high, with 4.24 billion shares exchanged in 41,389 deals.
International Energy Insurance Plc topped the gainers' table, appreciating by 10 per cent to N4.84. John Holt Plc followed with a 9.89 per cent gain to N10.00, while Trans-Nationwide Express Plc rose 9.75 per cent to N2.59.
SUNU Assurances Nigeria Plc gained 8.48 per cent to close at N3.58, while NEM Insurance Plc appreciated by 6.25 per cent to N34.00.
At the other end of the market, Unilever Nigeria Plc recorded the steepest decline, dropping 9.97 per cent to N118.30.
Chellarams Plc fell 9.66 per cent to N10.75, while Chapel Hill Denham NIDF declined 9.55 per cent to N147.70.
DAAR Communications Plc lost 9.25 per cent to close at N1.57, while Cornerstone Insurance Plc shed 9.09 per cent to finish at N5.00.
The performance of major banking stocks was mixed. United Bank for Africa Plc rose 1.21 per cent to N46.00, while Ecobank Transnational Incorporated gained 3.64 per cent to N74.00.
In contrast, Zenith Bank Plc declined 2.24 per cent to N122.00 and Access Holdings Plc lost 3.28 per cent to close at N26.50.
Trading in Exchange Traded Products generated 746 deals involving 307,433 units. SIAML Pension ETF 40 emerged as the strongest performer in the segment, rising 8.20 per cent to N2,600.00, while Meristem Value ETF appreciated by 1.54 per cent to N132.00.
Vetiva Banking ETF declined by 3.31 per cent to N34.81, while VSPBond ETF fell 3.06 per cent to N222.00.
In the fixed-income market, the Non-Interest Finance Board recorded 14 transactions involving 73,094 units, with Federal Government Sukuk instruments accounting for most of the activity.
No trades were recorded in the mainstream corporate and sovereign debt securities.
The latest decline highlights the continued weakness in the equities market as investors maintain a cautious stance amid broad-based selling pressure.
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