 began the week in the red as investors lost N297bn in market value. Despite strong trading activity){kind=link}
The Nigerian Exchange Limited (NGX) kicked off the trading week on a bearish note as investors recorded a significant loss of N297 billion on Monday, reflecting heightened profit-taking and cautious sentiment amid mixed sectoral performance.
At Nigerian Exchange Limited close of trading, the All-Share Index (ASI) dipped by 265.42 points, representing a 0.24 per cent drop, to settle at 108,467.98 points. Similarly, the market capitalisation fell by 0.43 per cent, closing at N68.1 trillion, compared to N68.4 trillion recorded on the last trading day.
Despite the market’s downturn, investor participation remained active with a total of 414.57 million shares exchanged in 16,664 deals, amounting to a market turnover of N10.71 billion. However, a comparative analysis with Friday’s session shows that the total volume of transactions declined by 10 per cent, while turnover was down by 4 per cent. The number of deals, on the other hand, rose by 6 per cent—indicating continued investor engagement even amid prevailing uncertainties.
A total of 127 equities were traded, with 39 gaining, 28 losing, and 60 closing flat, reflecting a somewhat balanced but cautious trading sentiment.
Leading the gainers’ chart was Multiverse Mining and Exploration Plc, which appreciated by 10 per cent to close at N11.00 per share. It was followed closely by Meyer Plc (N8.80), Smart Products Nigeria Plc (N0.55), Beta Glass Company Plc (N176.70), and Honeywell McCallum Ltd (N4.67), all of which posted close to 10 per cent gains. Abbey Mortgage Bank Plc also surged by 9.86 per cent to end the day at N7.69 per share.
Conversely, E-Tranzact International Plc led the losers’ chart, dropping 10 per cent to N5.40. Other laggards included Nigerian Aviation Handling Company Plc (NAHCO) which shed 9.64 per cent to close at N75.00, John Holt Plc (-9.48%), Union Dicon Salt Plc (-9.47%), C&I Leasing Plc (-8.31%), and Linkage Assurance Plc (-8.06%).
In terms of volume, Tantalizers Plc emerged as the most traded equity with 49.2 million shares. VFD Group Plc followed with 48.9 million shares, while Access Holdings Plc and Zenith Bank Plc recorded 29.4 million and 24.3 million shares traded respectively—underscoring continued investor interest in financial and consumer goods stocks.
The market performance across key indices was mixed. The Top 30 Index fell by 0.24 per cent, mirroring the general market trend. However, the Oil and Gas Index managed a 0.36 per cent gain, indicating investor optimism in the energy sector. The Insurance Index also appreciated by 0.29 per cent, while the Industrial Goods Index edged up by 0.12 per cent. On the flip side, the Main Board Index dropped by 0.11 per cent, and the Banking Index slipped by 0.24 per cent.
Despite Monday’s decline, the ASI has maintained a one-week gain of 1.66 per cent, a four-week gain of 4.11 per cent, and a year-to-date return of 5.38 per cent—suggesting that investor confidence remains intact over the medium term.
Last week, investors traded a total of 2.645 billion shares valued at N77 billion in 86,110 deals—an improvement from the previous week’s 2.200 billion shares worth N75.4 billion. This upward trend in volume and value signals that, despite intermittent pullbacks, the equity market remains relatively resilient.
As trading continues this week, market analysts suggest that investor sentiment will largely be influenced by the release of Q1 financial results, macroeconomic indicators such as inflation and interest rate movements, and global market dynamics. While Monday’s bearish close might signal some level of profit-taking, the broader outlook remains cautiously optimistic given the sustained influx of capital into growth and dividend-paying stocks.