Nigerian Equities Market Closes Lower Amid Profit-Taking Across Sectors

The Nigerian equities market closed lower as profit-taking persisted across key sectors, resulting in a slight decline in the All-Share Index. Investors booked profits following recent gains in select large and mid-cap stocks, with sentiment remaining cautious due to macroeconomic challenges and tight liquidity.

Market breadth closed negative with 27 gainers against 30 losers, reflecting a mild bearish bias. Notable stock movements included Aradel Holdings Plc (NGX: ARADEL), Nem Insurance Plc (NGX: NEM), Aso Savings and Loans Plc, Eterna Plc (NGX: ETERNA), among others.

Overall, the market adopted a wait-and-see approach ahead of fresh Q3 earnings releases.