The Nigerian stock market opened the new month on a bearish note, extending the negative sentiment that has gripped the market in recent weeks. On Monday — the first trading day of December — the Nigerian Exchange (NGX) closed lower, wiping off nearly N200 billion from investors’ wealth.
The benchmark All-Share Index (ASI) fell by 0.22% to close at 143,210.33 points, while market capitalisation declined by N197.32 billion to settle at N91.09 trillion. The dip also dragged the year-to-date return down to 39.14%, from 39.44% at the end of the previous week.
Big Losers Drive Market Sentiment
The negative close was largely driven by sell pressure in key counters, including:
INTBREW (-10.00%)
Dangote Sugar (-1.61%)
Lafarge WAPCO (-0.45%)
These declines overshadowed buying interest in a handful of gainers such as UBA (+1.51%), Champion Breweries (+8.11%), and AIICO Insurance (+6.34%).
Muted Trading Activity
Market activity also slowed significantly. Total transaction volume dropped by 19.74%, while the value of trades fell by 6.82%.
Cornerstone Insurance (CORNERST) dominated the day’s activity with 908.82 million shares worth N4.59 billion, emerging as the most traded stock by both volume and value. Despite the heightened activity, the stock closed lower, reflecting ongoing speculative trading and structural fragilities in the counter.
Broad Market Weakness Persists
Monday’s performance reinforces the sustained bearish momentum that has characterised the market in recent weeks. Analysts note that cautious investor sentiment, profit-taking, and weak macroeconomic indicators continue to push the market into negative territory as the year winds down.
With December underway, traders will be watching closely to see whether the market can muster a pre-holiday rebound or if the downtrend will stretch into the final trading weeks of 2025.
