Nigerian equities closed lower on Thursday, with the broader market dragged down by weakness in BUA Cement despite a standout performance from First HoldCo.
The mixed session highlights the fragmented nature of investor sentiment as the country approaches its general election.
First HoldCo shares surged to record levels, providing a bright spot in an otherwise subdued trading day.
The holding company's rally was driven by strong investor appetite for its diversified portfolio, which includes stakes in major financial and industrial firms.
However, this gain was not enough to offset losses elsewhere in the index.
BUA Cement emerged as the primary drag on the market, with shares sliding on profit-taking and broader sector concerns.