Nigeria Stock Market Sees N8bn Drop Amid Profit-Taking Activities
The Nigerian stock market experienced a slight downturn on Monday as investors’ collective wealth decreased by approximately ₦8 billion, bringing total market capitalisation to ₦68.95 trillion.
This decline followed significant profit-taking activities in major stocks, particularly MTN Nigeria and Access Holdings.
Market analysts observed that the trading session began with bearish sentiment, as several blue-chip companies faced downward pressure. The overall market performance reflected a marginal decline, with key indicators dropping by 0.01 per cent compared to the previous trading day.
Among the notable decliners, Access Holdings experienced a 2.13 per cent reduction in value, with its market capitalisation settling at ₦1.126 trillion. Similarly, MTN Nigeria shares fell by 1.03 per cent, closing at a market value of ₦5.773 trillion.
The market downturn contrasted sharply with the previous week’s performance, when investors recorded substantial gains exceeding ₦600 billion. The All-Share Index declined by 12.31 basis points, finishing the session at 109,697.83 points.
Despite the price declines, market activity showed positive momentum in terms of volume and transaction value. Total trading volume increased by 12.58 per cent, while the aggregate value of transactions rose by 32.36 per cent compared to the previous session.
According to market data, approximately 486.09 million shares worth ₦11,381.95 million changed hands across 24,883 transactions throughout the trading day.
Access Holdings dominated trading activity by volume, representing 9.30 per cent of total shares traded. Fidelity Bank followed with 8.12 per cent, while GTCO, Cutix, and UBA completed the top five most traded stocks by volume.
In terms of transaction value, GTCO emerged as the session’s leader, accounting for 19.47 per cent of the total value of all executed trades.
The market showed mixed performance across individual stocks. Ikeja Hotel and Tantalizer led the gainers’ list with 10.00 per cent price increases each. Other notable performers included Betaglas (+9.98%), Champion (+9.97%), NNFM (+9.97%), Multiverse (+9.94%), and McNichols (+9.91%), along with thirty-nine additional advancing stocks.
On the declining side, twenty-three stocks recorded losses. TIP topped the losers’ chart with a 10.00 per cent decrease, followed by ABCTRANS (-9.83%), FTNCOCOA (-9.65%), SUNUASSUR (-8.05%), TRANSCOHOT (-5.64%), and FIDELITYBK (-3.85%).
The market breadth remained positive despite the overall decline, with 46 stocks advancing compared to 23 declining issues.
Sector-wise analysis revealed predominantly positive performance across four of the five major market segments. The consumer goods sector led with a 1.55 per cent gain, while insurance stocks appreciated by 0.56 per cent. The oil and gas sector posted a modest 0.19 per cent increase, and industrial stocks rose by 0.17 per cent.
The banking sector was the only segment to record losses, declining by 0.74 percent amid profit-taking activities in financial services stocks.
The session’s results demonstrate the market’s resilience despite temporary setbacks from profit-taking activities. While overall market capitalization decreased by ₦7.88 billion, or 0.01 percent, to close at ₦68.95 trillion, the increased trading volumes and positive sectoral performance in most segments suggest sustained investor interest in Nigerian equities.
Market participants continue to monitor earnings reports and corporate developments as they position for potential opportunities in the coming trading sessions.
