Aradel and Presco stocks continued its decline in Thursday’s trading on the NGX as the market closed on a bearish note with significant losses recorded across key stocks.
Premium Stocks Decline
Leading the losers’ chart was Redstarex, which plunged by 9.98% to close at ₦25.70, closely followed by Aradel Holdings, down 9.68% to ₦1,210.30. Presco also posted a steep decline of 9.30%, settling at ₦1,701.10, reflecting sustained sell-offs in high-value equities.
Other notable laggards included LivingTrust Mortgage Bank, which dropped 8.40 percent to ₦4.80, and Daar Communications, which shed 7.50 percent to close at ₦1.85. The breadth of losses across sectors suggests a cautious investor sentiment, with traders locking in gains from previous rallies.
Guinness Nigeria Among Gaining Stocks
Despite the bearish tilt, the market still recorded pockets of strong upside momentum among select stocks. NSLTech led the advancers with a 10.00 percent gain to ₦1.32, followed by Guinness Nigeria, which rose 9.92 percent to ₦423.20. John Holt appreciated by 9.72 percent, while Sovereign Trust Insurance and Linkage Assurance gained 9.57 percent and 9.33 percent respectively.
Market analysts attribute the mixed performance to portfolio rebalancing and sector-specific movements, particularly in consumer goods and insurance stocks. While gainers showed resilience, the dominance of decliners underscores lingering volatility in the equities market.
Investors are expected to remain cautious in the short term, monitoring macroeconomic indicators and corporate earnings updates for clearer directional signals.
