The bearish momentum in Nigeria’s equities market continued on Monday as sustained profit-taking wiped off N68 billion from investors’ portfolios.
The market downturn, driven by broad-based losses across 27 stocks—including NPF Microfinance Bank, Prestige Assurance, Sterling Nigeria and WAPIC Insurance—extended the negative close recorded last week.
Market capitalisation slipped from N91.414 trillion to N91.346 trillion, representing a 0.08 per cent decline. The All-Share Index (ASI) mirrored this trend, falling by 108.01 points or 0.08 per cent to close at 143,614.61. This downturn pushed the year-to-date return down to 39.53 per cent.
Market breadth remained weak, with 27 losers outweighing 17 gainers.
FG152028S1 topped the laggards, plunging by 69.39 per cent to N30 per unit. NPF Microfinance Bank followed with a 7.85 per cent drop to N2.70, while Prestige Assurance shed 7.48 per cent to N1.36. Sterling Nigeria fell by 6.94 per cent to N6.70, and WAPIC Insurance declined 6.18 per cent to N2.43 per share.
On the flip side, Etranzact led the gainers with a 9.06 per cent increase to N14.45 per share. International Energy Insurance rose 8.49 per cent to N2.30, McNicholas gained 7 per cent to close at N2.75, C&I Leasing added 5.47 per cent to N5.59, and UPDC appreciated by 5.26 per cent to N6 per share.
Trading activity remained strong, with 694.8 million shares valued at N28.7 billion exchanged in 24,041 deals.
Guaranty Trust Holding Company (GTCO) dominated the day’s activity chart, accounting for 203.85 million shares worth N17.24 billion.
