The Nigerian Stock Exchange (NGX) commenced the week and month on a downward trajectory, with the All-Share Index dropping by 0.41%, equivalent to 41 basis points, as investors cashed out profits across various sectors amid a bearish market mood.
The local stock market continued its negative trend from the previous Friday, driven by persistent sell-offs in prominent large and mid-cap stocks, including ETERNA, WAPCO, and ZENITHBANK. Trading data indicated a 0.41% decline in the NGX All-Share Index, shedding 573.31 points to close at 139,722.19. Market activity showed a mixed performance, with trading volume decreasing by 6.24%, while the total value of trades surged by 42.21%.
According to Atlass Portfolio Limited, approximately 407.98 million shares, valued at ₦14,776.75 million, were exchanged in 33,859 transactions. FCMB dominated trading volume, contributing 13.76% of the total shares traded, followed by ACCESSCORP (7.87%), FIDELITYBK (6.45%), NSLTECH (5.51%), and AIICO (4.37%). In terms of value, ARADEL led with 36.02% of the total trade value on the exchange.
SOVRENINS was the top gainer, rising by 10.00%, followed by SCOA (+9.83%), CORNERST (+7.98%), GUINEAINS (+7.75%), NSLTECH (+4.71%), UNIVINSURE (+4.17%), and nine other stocks. However, 32 stocks recorded losses, with VERITASKAP, ELLAHLAKES, and ETERNA experiencing the steepest declines at 10.00%. Other notable losers included TANTALIZER (-7.26%), OANDO (-6.25%), WAPCO (-5.38%), HONYFLOUR (-4.21%), and ZENITHBANK (-2.42%).
Market breadth was negative, with 15 stocks advancing and 32 declining. All five major sectors tracked by Atlass Portfolio Limited posted losses, with the Banking sector falling 1.12%, Industrial by 0.85%, Oil & Gas by 0.45%, Insurance by 0.05%, and Consumer Goods by 0.03%. The overall market capitalization dropped by ₦362.77 billion, a 0.41% decline, closing at ₦88.41 trillion.
 opened the week with a 0.41% decline, shedding N363 billion in market capitalization amid sell-offs in ETERNA, WAPCO, and ZENITHBANK.){kind=link}