NGX Market Dips Slightly as Profit-Taking Hits Blue-Chip Stocks Amid Mixed Investor Sentiment

The Nigerian Exchange (NGX) recorded a mild downturn in trading activities as profit-taking pressure weighed on key market indicators, despite continued interest in select mid- and small-cap stocks. The session reflected a cautious mood among investors balancing gains with short-term sell-offs.

Market capitalization slipped marginally by about ₦170 billion, closing at ₦161.67 trillion compared to ₦161.84 trillion in the previous trading session. This decline highlighted a brief pause in the market’s recent momentum as traders locked in profits.

Similarly, the All-Share Index (ASI) dipped to 252,243.11 points from 252,508.19 points, signaling a slight bearish tilt in overall market performance. Analysts attributed the movement largely to profit-taking in heavily weighted stocks rather than a broad market sell-off.

Losses in major blue-chip and mid-tier stocks contributed significantly to the downturn, with Zichis leading the laggards after shedding 9.99%. FTN Cocoa, Meyer, and RT Briscoe also recorded notable declines, while banking stocks such as Wema Bank, Zenith Bank, Access Corp, and UBA faced moderate pressure.

However, the market was not entirely negative, as several counters recorded strong gains. Learn Africa led the gainers with a 10% rise, followed closely by Fidson, Austinlaz, and Berger, all posting near-maximum gains, showing that investor interest remains active despite short-term volatility.

source: newtelegraph