The Nigerian equities market returned to trading on a bearish note on Tuesday, June 11, 2025, after a two-day break for the Eid-el-Kabir holiday, with the Nigerian Exchange Limited (NGX) reporting a 0.53 per cent decline in its key performance indicators. The slide was largely attributed to profit-taking activities by investors after four consecutive days of bullish trading before the holiday.
The All-Share Index (ASI) dropped by 599.27 points, closing at 114,017.48 compared to 114,616.75 recorded last Thursday. Similarly, the market capitalisation dipped by ₦378 billion, closing at ₦71.897 trillion from the previous ₦72.275 trillion.
Market analysts say the pullback was expected following last week’s rally that added ₦1.2 trillion to investors’ portfolios in anticipation of the Sallah festivities. According to market watchers, traders who had previously taken bullish positions were now locking in profits amid cautious sentiment following the holiday.
Despite the dip, market breadth remained positive, indicating sustained investor interest in select equities. A total of 35 stocks recorded gains while 25 declined.
Berger Paints led the pack of gainers, rising by 10 per cent to close at ₦22.55 per share. DAAR Communications also advanced by 10 per cent to 66k. Other top-performing stocks included eTranzact, which appreciated by 10 per cent to ₦6.60; Legend Internet, which gained 9.93 per cent to ₦5.87; and Omatek Ventures, which closed 8.22 per cent higher at 79k.
On the flip side, RT Briscoe topped the losers’ chart, plunging by 10 per cent to ₦2.25. John Holt fell 9.87 per cent to ₦6.85, while Beta Glass declined 9.69 per cent to ₦210.10. Aradel Holdings dropped by 9.09 per cent to ₦500, and Deap Capital Management fell by 8.16 per cent to close at 90k.
Tuesday’s trading session saw a total of 652.64 million shares worth ₦18.88 billion exchanged in 23,978 deals. This represented a decline in both volume and value from the previous Thursday, when 1.46 billion shares valued at ₦33.47 billion were traded in 16,410 deals.
Access Corporation emerged as the most actively traded stock for the day, with 88.29 million shares valued at ₦1.97 billion crossing hands. Zenith Bank followed with 49.33 million shares worth ₦2.52 billion. GTCO traded 47.25 million shares valued at ₦3.34 billion, while Fidelity Bank and Wapic Insurance recorded 42.92 million and 34.99 million shares respectively, with transaction values of ₦844.84 million and ₦70.56 million.
Analysts project a cautious recovery in subsequent sessions as investors continue to react to corporate news, macroeconomic data, and global market cues. Although Tuesday’s bearish close marked a break in the upward momentum, the presence of more gainers than losers underscores underlying investor optimism.
According to market analyst Nnamdi Iwuchukwu of Nova Securities, “The post-holiday market reaction was a normal adjustment. Many investors are adopting a wait-and-see approach, but strong fundamentals in some sectors, particularly banking and ICT, could drive a rebound later in the week.”
The Nigerian capital market has continued to demonstrate resilience despite economic headwinds, including inflation, exchange rate volatility, and concerns about foreign exchange liquidity. The World Bank recently upgraded Nigeria’s economic growth forecast to 3.6 per cent for 2025, citing stabilising reforms in the financial and energy sectors. This positive outlook may support market recovery in the medium term.
While the market experienced a temporary setback following the Eid-el-Kabir holiday, investor sentiment remains relatively upbeat. With strategic positioning in resilient sectors and the possibility of corporate earnings announcements in the weeks ahead, market activity is expected to regain traction.