Nigerian Stock Market Falls 0.09% Amid BUA Cement Drop

The Nigerian stock market experienced a decline of 0.09% on the previous trading day, primarily driven by profit-taking in BUA Cement Plc, which saw a significant drop of 10%. The Nigerian Exchange Limited's All-Share Index (NGX ASI) decreased by 221.14 basis points, closing at 242,145.61 basis points.

The market capitalization fell by ₦32 billion, ending at ₦156.207 trillion. Investor sentiment remained positive, with 26 gainers outpacing 21 losers.

First Holdco emerged as the highest price gainer, increasing by 9.96% to close at ₦87.25 per share, followed by McNichols with an 8.00% rise to ₦5.40 per unit. In contrast, Eunisel Interlink led the losers' chart with a 10% decline, closing at ₦189.00 per share, while BUA Cement followed closely with a 9.99% drop to ₦275.60.

Total trading volume decreased by 10.0% to 498.45 million units, valued at ₦34.87 billion across 39,484 transactions. Analysts noted that the decline was driven by continued selling pressure on industrial stocks, although interest in select bank stocks remained evident.