The Nigerian stock market began the new trading week on a weaker footing as investors recorded a combined loss of N77 billion, reflecting renewed profit-taking across several heavyweight stocks. The bearish performance saw the Nigerian Exchange close lower on Monday, with declining stocks outweighing gainers despite pockets of strong buying interest in selected equities.
Market data showed that the All-Share Index dropped by 118.66 points, representing a 0.05 percent decline to settle at 247,238.74 points. As a result, the overall market capitalization also slipped by N77 billion, closing at N159.511 trillion. The decline was largely driven by losses recorded in major stocks, including Transcorp Power, Fidson Healthcare, BUA Cement, Nigerian Aviation Handling Company (NAHCO), and NEM Insurance, which dragged the broader market lower.
Investor sentiment remained cautious throughout the trading session, with 32 stocks posting losses compared to 27 gainers. However, a few companies bucked the negative trend. Thomas Wyatt Nigeria emerged as the day’s biggest gainer after climbing 9.92 percent to N3.99 per share, while Lasaco Assurance gained 9.89 percent to close at N2.00. Critical Minerals Financing Corporation, Chams Holding Company, and Nigerian Exchange Group also delivered impressive gains, reflecting continued investor interest in select counters despite the market’s overall weakness.
On the losing side, Sunu Assurance and Transcorp Power topped the losers’ chart after each shedding 10 percent of their share prices. They were followed by International Breweries, which declined 9.85 percent, while Neimeth International Pharmaceuticals and Austin Laz & Company also suffered notable price drops. The widespread losses among key stocks contributed significantly to the day’s negative close and highlighted the cautious mood among investors.
Despite the market downturn, trading activity remained robust. The total volume of shares traded rose by 3.81 percent to 637.96 million units, valued at N57.20 billion, across 71,240 deals. Access Holdings led the activity chart with 47.58 million shares, followed by FCMB Group, First Holdco, Champion Breweries, and Zenith Bank, indicating that investors continued to actively position themselves even as the broader market struggled to maintain positive momentum.
source: punch
