The Nigerian stock market opened the week on a subdued note as cautious trading activity wiped off about ₦4 billion from investors’ wealth on Tuesday. The market’s All-Share Index (ASI) shed 6.27 points, representing a marginal decline of 0.004 per cent, to close at 147,710.96 points. Similarly, market capitalisation dipped from ₦93.761 trillion to ₦93.757 trillion, underscoring the weak investor sentiment that has persisted in recent sessions.
Analysts attributed the downturn to profit-taking and investors’ cautious stance amid uncertain macroeconomic signals. Medium- and large-cap stocks such as Fidson Healthcare, Berger Paints, Nigerian Breweries, Dangote Sugar Refinery, and NASCON Allied Industries were among the key decliners that contributed to the market’s bearish close. This tepid performance comes despite earlier optimism following several policy announcements aimed at boosting investor confidence.
Market breadth also reflected a negative sentiment, with 36 decliners outnumbering 23 gainers. Regency Alliance Insurance emerged as the day’s top gainer, rising by 8.82 per cent to close at ₦1.48 per share. It was followed by Prestige Assurance, which appreciated by 6.71 per cent to ₦1.75, and Wapic Insurance, up 6.45 per cent to ₦3.30 per share. Other notable gainers included Legend Internet and CWG, which rose by 5.45 per cent and 4.74 per cent, respectively.
On the losing side, Austin Laz & Company led the chart with a 7.94 per cent drop to ₦2.90 per share, while Deap Capital Management & Trust and Fidson Healthcare both shed 6.67 per cent to close at ₦1.68 and ₦40.60 per share, respectively. Caverton Offshore Support Group also declined by 6.35 per cent to ₦6.49, and Berger Paints fell 5.92 per cent to ₦36.55 per share. Analysts say these losses indicate continued investor wariness toward industrial and manufacturing counters.
Trading activity was also weaker, as total transaction volume fell by 20.73 per cent to 495.1 million units worth ₦17.34 billion, exchanged in 9,805 deals. Fidelity Bank maintained its dominance on the activity chart with 50.9 million shares traded at ₦1.02 billion in value. Chams Holding Company followed with 37.36 million shares worth ₦157.75 million, while Tantalizer recorded 36.69 million shares valued at ₦85.25 million. Access Holdings and Sovereign Trust Insurance also featured prominently among the most traded equities for the day.
source: leadership