Nigerian Equities Market Loses N150 Billion as Investors Take Profits

Nigerian Exchange investors experienced losses exceeding N150 billion as market values declined for major stocks, including Dangote Cement, Dangote Sugar Refinery, and other securities.

The domestic equities market concluded trading negatively, with key performance indicators dropping 0.20%.

Despite generally positive market breadth, sustained selling pressure in high-capitalization stocks drove the negative close, particularly affecting DANGCEM, DANGSUGAR, ZENITHBANK, and others. This marked the fourth consecutive profit-taking session, resulting in cumulative investor wealth losses of approximately N960 billion.

The All-Share Index declined 237.34 basis points (0.20%) to close at 119,741.23. Trading activity decreased significantly, with total volume and value dropping 74.71% and 75.20% respectively. Atlass Portfolio Limited reported approximately 513.92 million units worth N10,994.39 million transacted across 21,221 deals.

ELLAHLAKES led volume activity with 8.76% of total trades, followed by UPDC (7.32%), UNIVINSURE (5.78%), NB (5.50%), and JAPAULGOLD (4.14%). Nigerian Breweries dominated value trading, accounting for 15.51% of total trade value.

MCNICHOLS, RTBRISCOE, HONYFLOUR, and MBENEFIT topped gainers with 10.00% price appreciation each, followed by LASACO (+9.96%), NEIMETH (+9.95%), MEYER (+9.95%), ELLAHLAKES (+9.95%), CAVERTON (+9.95%), and thirty-seven others.

Twenty-three stocks declined, led by UPL (-10.00%). Other decliners included HMCALL (-4.76%), DANGCEM (-3.41%), DANGSUGAR (-1.78%), ZENITHBANK (-1.58%), and GTCO (-1.23%).

Market breadth remained positive with 46 gainers versus 23 losers. Sectoral performance was mixed, with three of five major sectors declining. The industrial sector fell 3.17%, insurance dropped 2.24%, and oil & gas declined 1.86%. Consumer goods and banking sectors gained 31.60% and 17.99% respectively.

Overall, the Nigerian Exchange market capitalization decreased N150.24 billion (0.20%) to close at N75.80 trillion.