The local stock market closed in the red zone on the first trading day in April and the second quarter of 2025.

The downturn saw the All-Share Index fall by 0.14 per cent to 105,515.99 points from 105,660.64 in the last trading session. Similarly, the market capitalisation dipped 0.14 per cent to N66.17tn, reflecting a N90.70bn loss to investors.

Trading activity was subdued, with total transaction volume and value declining by 19.99 per cent and 44.41 per cent, respectively. However, the number of deals surged by 30.52 per cent, with 17,286 transactions recorded, amounting to N12.02bn in value and 438.09 million units traded.

The overall market downturn dampened investor sentiment, resulting in weak market breadth—25 stocks advanced while 33 declined.

Leading the gainers were UPDCREIT (+10.00 per cent), Africa Prudential (+9.96 per cent), VFD Group (+9.96 per cent), Union Dicon (+9.28 per cent), and May & Baker (+6.17 per cent).

Conversely, the top decliners included UAC Nigeria (-10.00 per cent), UPL (-9.95 per cent), SUNU ASSURE (-9.92 per cent), CONHALL PLC (-9.78 per cent), and Learn Africa (-9.64 per cent).

Trading activity was subdued, with total transaction volume and value declining by 19.99 per cent and 44.41 per cent, respectively. However, the number of deals surged by 30.52 per cent, with 17,286 transactions recorded, amounting to N12.02bn in value and 438.09 million units exchanging hands.

Sectoral performance was largely negative. The insurance, consumer goods, oil & gas, and commodity sectors recorded losses of 2.61 per cent, 0.01 per cent, 0.49 per cent, and 0.17 per cent, respectively, while the banking sector edged up by 0.07 per cent and the commodities sector remained flat.

In the past week, the local bourse rebounded from its four-week bearish streak, as the bulls took charge, dominating three out of the five trading sessions. This positive performance was chiefly driven by impressive announcements from select banking tickers.