Investors Take Profits as Nigerian Stocks Slip, Wiping Out N94bn in Market Value

The Nigerian equities market opened the week on a bearish note as investors engaged in profit-taking from high-cap stocks, resulting in a decline of N94 billion in market capitalisation at the close of trading on Monday.

Data from the Nigerian Exchange Limited (NGX) revealed that market capitalisation fell slightly to N98.7 trillion from Friday’s N98.8 trillion, marking a 0.1 per cent dip. The All-Share Index also dropped by 148.90 points to close at 155,496.15.

Despite the day’s setback, the overall market sentiment remains positive, with the NGX posting a one-week gain of 3.71 per cent, a four-week rise of 9.4 per cent, and a robust year-to-date growth of 51.08 per cent.

Trading activity showed that investors exchanged 502.99 million shares valued at N24.94 billion in 39,945 deals — representing a 58 per cent drop in volume and a 21 per cent fall in turnover compared with the previous session, although the number of transactions climbed by 33 per cent.

Financial and industrial sector stocks dominated trading. Access Holdings led with 68.9 million shares worth N1.62 billion, followed by FBN Holdings with 66.6 million shares valued at N2.09 billion. Other active counters included Universal Insurance, Sovereign Trust Insurance, and Zenith Bank. On the value chart, Aradel Holdings led with N5.63 billion in transactions, ahead of Presco (N2.25bn), FBN Holdings (N2.09bn), Dangote Cement (N1.65bn), and Access Holdings (N1.62bn).

Market breadth closed negative, with 25 gainers and 34 losers. Aradel Holdings topped the gainers’ list with a 10 per cent rise to N869 per share, while NEM Insurance appreciated by 9.67 per cent to N32.90. Aso Savings & Loans gained 9.09 per cent, and Eterna rose 8.75 per cent. On the losers’ chart, Deap Capital Management & Trust shed 9.71 per cent to close at N1.58, followed by Champion Breweries, which declined 9.64 per cent to N15 per share. Red Star Express, Wapic Insurance, and PZ Cussons also posted losses.

Sectoral performance was mixed. The Oil and Gas Index gained 4.24 per cent, the Insurance Index rose 1.09 per cent, and the Main Board Index advanced 0.22 per cent. However, the Pension Index fell 0.48 per cent, while the Top 30 Index slipped 0.08 per cent.

Last week, the NGX recorded its strongest performance in months, as investors lifted the market by 4.48 per cent, adding N4.32 trillion to its overall value. Market capitalisation closed the week at N98.79 trillion, while the All-Share Index settled at 155,645.05 points — reflecting renewed investor confidence and heightened activity across key sectors.