Nigerian stocks started the week on a weak note as investors pulled back, driving a day’s loss of about N81 billion. Nigerian Exchange Limited market capitalisation slipped 0.05%—falling from N160.443 trillion to N160.362 trillion—while the All-Share Index declined in tandem.
The All-Share Index eased from 250,330.92 to 250,204.83, down 126.09 points, equivalent to a 0.05% drop. Year-to-date performance also softened, with the return falling to 60.79%, as overall market breadth ended in negative territory with 36 counters declining and 33 advancing.
Quick facts
- Market capitalisation: down 0.05% (N160.443tn to N160.362tn), a loss of about N81bn
- All-Share Index: down 0.05% (250,330.92 to 250,204.83), -126.09 points
- Year-to-date return: 60.79%
- Breadth: 36 losers, 33 gainers
- Trading activity: volume down 26.16% to 800.46 million shares; value traded N37.05bn across 87,096 deals
Biggest laggards came from NCR Nigeria and Zichis Agro-Allied Industries, each falling 9.99% to close at N161.20 and N26.49 per share, respectively. Industrial and Medical Gases dropped 9.93% to N38.10, while Sovereign Trust Insurance slid 9.86% to N2.65.
Daar Communications also weighed on sentiment, retreating 9.78% to finish at N2.03 per share. On the other side of the tape, Oando and University Press led the advances, each gaining 10% to end at N51.70 and N5.50 per share.
Gains extended beyond the top two: Deap Capital Management rose 9.96%, May and Baker climbed 9.94%, and Trans-Nationwide Express advanced 9.92%, closing at N5.96, N52 and N7.76 per share, respectively.
What pulled the market lower
Several heavyweights and a wide slice of the board pushed prices into red. NCR Nigeria, Zichis Agro Allied Industries, Industrial and Medical Gases, Sovereign Trust Insurance, and Daar Communications—along with 31 other equities—were cited among the factors dragging the session into negative territory.
Turnover cooled into the close as trading volumes declined. Total shares traded fell 26.16% to 800.46 million, with the value of transactions dropping to N37.05 billion across 87,096 deals.
United Bank for Africa recorded the highest trading volume at 64.97 million shares, representing 8.12% of the day’s total. Aradel Holdings topped the value list with trades worth N6.15 billion, accounting for 16.60% of the total value transacted during the session.
