The Nigerian equities market closed lower on Friday, July 24, 2026, reversing the previous session’s gains as profit-taking in Presco Plc, banking and other large-cap stocks outweighed broad-based buying interest across the market.

The benchmark NGX All-Share Index declined 0.19 per cent to close at 247,357.40 points, down from 247,831.40 points at Thursday’s close.

Market capitalisation fell to N159.59 trillion from N159.89 trillion, wiping out approximately N305.82 billion in investor value during the session, while the market’s year-to-date return moderated to 58.96 per cent.

The session’s losses were largely driven by declines in banking and large-cap stocks, with Presco Plc leading the charge, shedding its maximum 10 per cent to close at N2,070.00 from N2,300.00.

The All-Share Index closed at 247,357.40 points, down 0.19 per cent from 247,831.40 points.

Market capitalisation stood at N159.59 trillion, down 0.19 per cent from N159.89 trillion.

Total deals rose by 19.47 per cent to 55,282 from 46,273.

Trading volume fell by 21.45 per cent to 614.55 million shares.

Market value or turnover declined by 41.47 per cent to N32.95 billion.

Year-to-date performance stood at 58.96 per cent.

Among the top five gainers, Chapel Hill Denham Nigeria Infrastructure Fund (CNIF) rose by 10.00 per cent to N127.60, C&I Leasing gained 9.48 per cent to N6.35, Cornerstone Insurance rose 9.09 per cent to N6.00, RT Briscoe gained 8.61 per cent to N13.25, and Honeywell Flour Mill rose 7.38 per cent to N17.45.

Among the top five losers, Presco declined 10.00 per cent to N2,070.00, Thomas Wyatt Nigeria fell 9.93 per cent to N3.63, Trans-Nationwide Express dropped 8.44 per cent to N2.82, Royal Exchange declined 7.86 per cent to N1.29, and LivingTrust Mortgage Bank fell 7.32 per cent to N3.80.

Apart from Presco’s sharp decline, the session’s dip was chiefly a banking-sector story. Fidelity Bank fell 4.55 per cent, UBA dropped 4.37 per cent, Wema Bank declined 0.63 per cent, First HoldCo slipped 0.33 per cent, and CWG declined 4.15 per cent.

First HoldCo, despite closing marginally lower at N120.50 from N120.90, remained a key drag on the index given its large market capitalisation and high trading volume.

GTCO also edged lower, adding to the pressure on the Banking Index.

Zenith Bank and Access Holdings recorded minor pullbacks that still weighed on overall market direction given their size.

Further losses hit Maybaker, which declined 2.38 per cent, Transcorp, which fell 2.13 per cent, NGX Group, down 1.27 per cent, and Oando, down 1.11 per cent.

Guinness Nigeria and Dangote Sugar Refinery led a modest drag in the consumer and industrial segment, though their declines were comparatively slight.

Despite the benchmark ending in negative territory, market breadth remained positive, with 33 gainers surpassing 25 losers, indicating that buying interest persisted across a broad range of fundamentally sound stocks.

However, the gains recorded were not sufficient to offset profit-taking in high-capitalisation banking names. CNIF topped the gainers’ chart, trading above its 52-week high of N116.00 at N127.60, while Presco led the decliners.

Market activity weakened during the session, as total volume traded declined 21.45 per cent to 614.55 million shares, valued at N32.95 billion across 55,282 deals.

Access Holdings recorded the highest volume with 128.01 million units traded, accounting for 20.83 per cent of the day’s volume.

Aradel Holdings recorded the highest value at N6.62 billion, representing 20.10 per cent of the day’s total value traded.

First HoldCo and Chams accounted for 5.76 per cent and 5.66 per cent of total volume respectively, while First HoldCo and Zenith Bank followed Aradel in traded value.

Among the day’s biggest movers by volume, First HoldCo traded 35.38 million units worth N4.33 billion, Zenith Bank traded 30.42 million units worth N3.85 billion, and UBA traded 30.39 million units worth N1.45 billion.

Friday’s pullback ends a two-session winning streak that had pushed the index past the 247,800-point mark on Thursday.

The decline of 0.19 per cent in both the ASI and market capitalisation was largely driven by pullbacks in Presco and major banking and large-cap consumer/industrial stocks.

Even slight declines in these heavyweight names carry a disproportionate impact on the index given their market capitalisation weight.

The banking sector, in particular, led by First HoldCo, GTCO, UBA and Zenith Bank, was the main contributor to the overall market dip.

Guinness Nigeria and Dangote Sugar Refinery added to the drag on the consumer/industrial segment.

With market breadth remaining positive despite the index’s decline, the session’s pullback appears concentrated in a handful of heavyweight names rather than reflecting a broad shift in investor sentiment.