The Nigerian stock market kicked off the week in the red, with investors cashing in gains on heavyweight shares, erasing N94 billion from total market value by Monday’s close.
Figures from the Nigerian Exchange Limited (NGX) indicate that overall capitalization slipped to N98.7 trillion from N98.8 trillion the prior Friday, a 0.1% dip. The All-Share Index mirrored the downturn, shedding 148.90 points to end at 155,496.15.
Despite the daily setback, broader trends remain robust: the market has posted a 3.71% rise over the past week, 9.4% over four weeks, and a stellar 51.08% year-to-date return.
Turnover weakened, with 502.99 million shares worth N24.94 billion changing hands across 39,945 transactions. Volume fell 58% from the previous session, value dropped 21%, though deal count climbed 33%.
Financial and industrial names dominated activity. Access Holdings topped volume with 68.9 million units traded for N1.62 billion, trailed by FBN Holdings at 66.6 million shares valued at N2.09 billion. Universal Insurance, Sovereign Trust Insurance, and Zenith Bank rounded out the top five by shares exchanged.
In terms of monetary value, Aradel Holdings led with N5.63 billion in trades, followed by Presco (N2.25 billion), FBN Holdings (N2.09 billion), Dangote Cement (N1.65 billion), and Access Holdings (N1.62 billion).
Market breadth tilted negative, featuring 25 advancers against 34 decliners. Aradel Holdings paced winners with a 10% leap to N869 per share, while NEM Insurance added 9.67% to N32.90. Aso Savings & Loans and Eterna gained 9.09% and 8.75%, respectively.
Decliners were headed by Deap Capital Management and Trust, down 9.71% to N1.58, and Champion Breweries, off 9.64% to N15. Red Star Express fell 8.64%, with Wapic Insurance and PZ Cussons losing 6.45% and 5.94%.
Sector results varied: Oil & Gas surged 4.24%, Insurance rose 1.09%, and the Main Board edged up 0.22%. The Pension Index dipped 0.48%, and the Top 30 gauge eased 0.08%.
The session follows a banner week for the NGX, which recently vaulted 4.48% to add N4.32 trillion in value, closing capitalization at N98.793 trillion and the All-Share Index at 155,645.05 points amid heightened sector-wide participation.
