The Nigerian equities market began the week on a negative trajectory as profit-taking across major sector indexes dragged overall performance downward, leading to a collective loss of N69 billion for investors on Monday. The session extended the previous week’s bearish close, during which the Nigerian Exchange (NGX) shed N2.09 trillion in market value.
At the close of trading, the All-Share Index slipped by 108.01 points or 0.08%, settling at 143,614.61 points. Market capitalisation followed the same pattern, retreating by N68.68 billion to finish at N91.34 trillion.
Market participants adopted a cautious stance amid expectations that the Monetary Policy Committee (MPC) may opt for a reduction in Nigeria’s benchmark interest rate after concluding its bimonthly deliberations. This sentiment weighed heavily on trading positions.
Bearish pressure dominated the sellers’ corridor, pushing down prices in counters such as STERLINGNG, WAPIC, DEAPCAP, and TANTALIZER ahead of Tuesday’s interest rate decision by the Central Bank of Nigeria (CBN).
Despite the downtrend in prices, trading momentum strengthened across the bourse. Fresh NGX data showed that overall market volume rose by 4.03%, while the total value of transactions advanced by 10.75%. In total, 683.40 million units worth N28.37 billion exchanged hands in 23,864 executed deals.
GTCO continued to dominate market activity, accounting for 29.44% of total traded volume. It was trailed by FIDELITYBK (18.99%), JAPAULGOLD (9.94%), FCMB (5.49%), and ACCESSCORP (3.16%). GTCO also led the value chart with a commanding 60.18% contribution to the day’s total market turnover.
On the gainers list, ETRANZACT topped the chart after appreciating by 9.06%. INTENEGINS followed with an 8.49% rise, while MCNICHOLS gained 7.00%. Other notable advancers included CILEASING (+5.47%), UPDC (+5.26%), RTBRISCOE (+4.76%), and several others.
However, the market recorded 26 laggards. NPFMCRFBK led the losers’ group with a 7.85% drop, followed by PRESTIGE (-7.48%), STERLINGNG (-6.94%), WAPIC (-6.18%), and DEAPCAP (-5.59%). OMATEK also dipped by 4.50%.
The market breadth remained negative, reflecting the dominance of declining stocks over advancers at a ratio of 26 to 17. Sectoral performance was largely downbeat as the Insurance index fell by 0.79%, Oil & Gas dipped 0.59%, Banking slipped 0.27%, and Consumer Goods edged lower by 0.02%. Industrial Goods, however, closed flat with no change.
