- The Nigerian equities market recorded a negative start to the trading week as investors lost ₦77 billion, dragging total market capitalization down to ₦159.511 trillion.
- Profit-taking across major counters drove bearish sentiment, resulting in 32 decliners against 27 advancers on the floor of the exchange.
- Thomas Wyatt Nigeria led the gainers with a 9.92% surge, while Sunu Assurance and Transcorp Power posted maximum daily drops of 10% each.
Trading activities on the floor of the Nigerian Exchange Limited opened the week on a subdued note following profit-taking activities by market investors.
Eko Hot Blog reports that the downturn led to a overall loss of ₦77 billion in market capitalization, ending the trading session at ₦159.511 trillion compared to its previous valuation.
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The main benchmark indicator, the All-Share Index, dipped by 118.66 points or 0.05 percent to settle at 247,238.74 points.
Sell-offs in large and medium-capitalized stocks, including Transcorp Power, BUA Cement, Fidson Healthcare, Nigerian Aviation Handling Company, and NEM Insurance, contributed significantly to the market’s retreat.
Negative investor sentiment dominated the session, with 32 equities losing value against 27 stocks that managed to appreciate.
On the gainers’ chart, Thomas Wyatt Nigeria emerged as the top performer after gaining 9.92 percent to close at ₦3.99 per share.
Lasaco Assurance followed with a 9.89 percent rise to settle at ₦2.00, while Critical Minerals Financing Corporation gained 9.18 percent to hit ₦3.45 per share.
Chams Holding Company and Nigerian Exchange Group also appreciated by 7.78 percent and 6.96 percent, closing at ₦4.85 and ₦158.30 per share, respectively.
Conversely, Sunu Assurance and Transcorp Power topped the losers’ chart, each recording a 10 percent decline to finish at ₦3.24 and ₦219.60 per share, respectively.
International Breweries dropped by 9.85 percent to end at ₦12.35 per share, Neimeth International Pharmaceuticals fell by 9.78 percent to ₦8.30, and Austin Laz & Company slid by 9.64 percent to close at ₦3.28 per share.
Despite the drop in value, market turnover posted moderate improvement as total trade volume rose by 3.81 percent to 637.961 million units valued at ₦57.202 billion, exchanged across 71,240 deals.
Transactions in Access Holdings led the market activity by volume with 47.575 million shares traded for ₦1.369 billion, followed by FCMB Group, First Holdco, Champion Breweries, and Zenith Bank.
Market analysts expect trading dynamics to remain cautious in subsequent sessions as investors monitor incoming earnings reports and economic indicators to position their portfolios.
