The Nigerian equity market opened the month of December on a bearish tone, with investors wiping off more than ₦197 billion in market value as sell-offs dominated the trading floor of the Nigerian Exchange (NGX).
Monday’s session saw major market indicators trend downward by 0.22%, reflecting cautious sentiment across key sectors. Profit-taking activities in heavyweights such as ARADEL, DANGSUGAR, and WAPCO contributed to the decline.
The NGX All-Share Index dipped by 310.20 points, closing at 143,210.33, while total market capitalisation fell to ₦91.08 trillion, representing a loss of ₦197.31 billion.
Trading activity weakened as overall transaction volume and value dropped by 19.74% and 6.82%, respectively. Stockbrokers reported that investors exchanged approximately 1.466 billion shares worth ₦18.66 billion in 28,956 deals.
WEMABANK dominated both the volume and value charts, contributing 20.37% of total volume and 14.75% of total trade value. Other top-traded stocks included ACCESSCORP, FIDELITYBK, ZENITHBANK, and CUSTODIAN.
Market breadth tilted negative as 26 stocks declined compared to 19 gainers. INTBREW led the losers’ chart with a 10% decline, while RTBRISCOE, CORNERST, DAARCOMM, REGALINS, and UPDC also recorded significant drops.
On the flip side, NCR topped the gainers’ chart with a 9.97% increase, followed by SUNUASSUR, CHAMPION, MECURE, GUINEAINS, and LINKASSURE.
Sectoral performance reflected the overall market downturn, with three of the five major sectors closing in the red. Consumer Goods fell by 1.01%, Oil & Gas dipped 0.11%, and Industrial Goods shed 0.07%. The Banking and Insurance sectors posted marginal gains of 0.11% and 0.10% respectively.
