NGX Plunges, Investors Lose N1.37trn as Sentiment Shifts
The Nigerian Exchange (NGX) All-share index and market capitalisation plunged on Monday as investor sentiment shifted from risk-on to risk-off.
The local bourse experienced reversed trades across key stocks following a sharp rally that pushed many listed companies’ shares into the overbought zone.
The NGX All-Share Index declining 0.94% to settle at 223,602.29 points, pulling the year-to-date return down to +43.69% and erasing ₦1.37 trillion from market capitalisation, which closed at ₦143.97 trillion.
Stockbrokers said market breadth was negative at 0.9x, as 40 losers led by FIRSTHOLDCO, TRANSEXPR, UBA, ACCESSCORP, and FIDELITY outpacing 35 gainers.
Ticker: ABBEYBDS, ZICHIS, WEMABANK, NPFMCRFBNK, and WAPIC posted the most notable gains as investors increased their bets amidst the first quarter of 2026 earnings release.
Sectoral performance was mixed, as Industrial (+0.85%), Commodity (+0.63%), and Insurance (+0.15%) finished in positive territory, while Banking (-6.49%), Consumer Goods (-0.41%), and Oil & Gas (- 0.24%) dragged on the index.
Trading activity was equally mixed, as volume and deal count rose 8.06% and 49.98% to 678.17 million shares and 82,838 transactions, respectively, while turnover edged down 0.85% to ₦44.14 billion.
Heading into Tuesday’s session, the market is expected to sustain its negative bias as profit-taking activities continue to weigh on investor sentiment, according to Cowry Asset Limited,
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