The Nigerian stock market opened the week lower, erasing N276 billion in market capitalization as investors booked profits following recent gains. The downturn, reflected across key benchmark indices, signals a cautious start to trading activities on the Nigerian Exchange Limited (NGX).
Data from the bourse showed the total market value of listed equities fell by 0.21 percent, closing at N128.693 trillion on Monday, down from N128.969 trillion recorded at the end of the previous trading week. Correspondingly, the NGX All-Share Index, the primary benchmark for market performance, decreased by 428.63 points or 0.21 percent to settle at 200,484.43. Despite this session’s decline, the index maintains a strong year-to-date (YTD) return of 28.84 percent, highlighting robust performance over the longer term.
Market breadth closed negative, indicating weaker sentiment, as 34 stocks posted price declines against 27 gainers. On the losers’ list, Secure Electronic Technology (SET) led with a 10 percent drop, closing at N1.17 per share. Other notable decliners included May & Baker Nigeria, Legend Internet, Cutix, and Fortis Global Insurance Plc.
In contrast, Austin Laz & Associates emerged as the top gainer, rising 9.98 percent to close at N4.41 per share. Zichis Agro Allied Industries, Transcorp Power Plc, The Initiates Plc, and Learn Africa Plc also featured among the session’s advancers.
Trading activity presented a mixed picture. While the total value and number of transactions increased, the volume of shares traded declined. A total of 593.3 million shares, valued at N25.6 billion, were exchanged across 60,311 deals. This compares to 595.2 million shares worth N24.5 billion traded in 43,440 deals in the prior session.
Access Corporation Plc recorded the highest volume of shares traded at 86.64 million units. In value terms, First HoldCo led with transactions totaling N4.26 billion.
The session’s outcome reflects a typical market consolidation after a sustained upward trend. The moderate YTD return suggests underlying resilience, even as short-term profit-taking drives periodic volatility. Market watchers will analyse whether this correction deepens or if buying interest re-emerges, particularly in light of the mixed trading volumes.
