The Nigerian Exchange (NGX) opened the trading week on a negative note on Monday, with a mild sell-off shaving N10.9 billion off the market’s total value despite heightened trading activity.
At the close of trading, the NGX All-Share Index edged down to 166,112.50 points from 166,129.50 points previously, while market capitalisation slipped to N106.342 trillion from N106.353 trillion, according to data from the exchange.
Although prices weakened, investor participation improved. A total of 629.57 million shares exchanged hands in 57,840 deals, valued at N14.75 billion. Compared with the previous session, trading volume rose by 17 per cent and deal count increased by 21 per cent, even as turnover declined by 12 per cent.
Market breadth was positive, with more stocks advancing than declining. Out of 130 equities traded, 44 closed higher while 24 recorded losses.
NCR Nigeria, Champion Breweries and Learn Africa topped the gainers’ chart, each rising by the maximum 10 per cent. Triple Gee & Company followed closely with a 9.94 per cent gain, while Neimeth Pharmaceuticals and Morison Industries advanced by 9.90 per cent and 9.89 per cent respectively.
Losses were led by Industrial & Medical Gases, which fell by 9.95 per cent to close at N34.85 per share. Haldane McCall and LivingTrust Mortgage Bank declined by 9.88 per cent and 9.57 per cent respectively, while Ikeja Hotel and Union Dicon also ended the session lower. Nigerian Breweries shed 4.01 per cent to close at N80.15.
Activity was strongest in medium- and large-cap stocks. Secure Electronic Technology led volume charts with 83.3 million shares traded, followed by Access Holdings, Jaiz Bank and Tantalizers.
By value, Zenith Bank emerged as the most traded stock at N1.57 billion, closely followed by Aradel, Access Holdings and GTCO, while UBA completed the top five.
Analysts said the session reflected cautious positioning by investors at the start of the week, as participants balanced profit-taking with selective interest in banking and consumer stocks.
