Profit-Taking Reduces NGX Market Capitalisation by N106bn
The Nigerian Exchange (NGX) equities market capitalisation declined on Monday as investors’ portfolio values fell by more than N106 billion due to sell-side pressure.
The stock market extended its bearish trajectory with the NGX All-Share Index (ASI) declining 0.07% to close at 242,454.65 points, pulling the year-to-date return down to +55.81%.
The risk-off sentiment erased ₦106.24 billion from market capitalisation, which closed at ₦156.52 trillion. Market breadth stood at 0.51x, with 19 gainers and 37 losers.
The gainers list was led by TRANSEXPR (9.86%), AVACAP (9.72%), and THOMASWY (9.09%), while the losers list was topped by RTBRISCOE (-9.91%), FTGINSURE (-9.88%), and MCNICHOLS (-9.61%).
Market activity levels declined as total volume fell to 1.33 billion, trade value to N22.91 billion, and the number of deals increased to 45,439, compared to the last trading session, when N1.41 billion units of shares valued at N46.31 billion were executed in 39,072 deals.
Leading stock market activity, LASACO topped the volume chart with 730.69 million units, while MTNN led the value chart with N7.30 billion in trade.
Sectoral performance was mixed, as Banking (-1.48%) and Insurance (-0.46%) weighed on the index, while Consumer Goods (+0.43%) and Oil& Gas (-0.01%) delivered a divergent showing, and the Industrial and Commodity sectors ended relatively flat.
The market is expected to sustain its bearish trend as investor sentiment tilts increasingly negative, though residual optimism could spark a recovery driven by portfolio readjustment and strategic repositioning. MTN Nigeria Declines as Investors Take Profits in Telco Stock
