Nigerian Stock Market Opens Bearish As Investors Lose N276bn
The Nigerian stock market began the trading week on a negative note, as investors recorded a loss of about N276 billion in market value.
This decline reflects renewed selling pressure across key stocks on the Nigerian Exchange (NGX).
Market Performance Overview
At the close of trading, the All-Share Index (ASI) dropped, indicating a bearish trend as more stocks recorded losses than gains.
Market capitalisation also declined significantly, wiping out billions from investors’ portfolios.
The Nigerian stock market started the week on a bearish note with investors recording a loss of N276 billion in market value on Monday.
Figures from the Nigerian Exchange Limited showed that market capitalization dipped by 0.21 percent to close at N128.693 trillion, down from N128.969 trillion recorded in the previous session.
Similarly, the All-Share Index declined by 428.63 points, representing a 0.21 percent drop, to settle at 200,484.43, compared to 200,913.06 posted earlier.
As a result, the year-to-date (YTD) return moderated to 28.84 percent. Market breadth also closed negative, with 34 stocks recording losses against 27 gainers.
On the losers’ chart, Secure Electronic Technology led with a 10 percent decline to close at N1.17 per share. Other laggards included May & Baker, Legend Internet, Cutix, and Fortis Global Insurance.
Conversely, Austinlaz topped the gainers’ table with a 9.98 percent increase to close at N4.41 per share. It was followed by Zichis Agro Allied Industries, Transcorp Power, The Initiates, and Learn Africa.
Trading activity showed mixed performance, as the value and number of deals increased while volume declined. A total of 593.3 million shares worth N25.6 billion were traded in 60,311 deals, compared to 595.2 million shares valued at N24.5 billion exchanged in 43,440 deals in the previous session.
Access Corporation recorded the highest volume of traded shares at 86.64 million, while First HoldCo led in value terms with transactions worth N4.26 billion.
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