The Nigerian stock market closed slightly lower yesterday, slipping by 0.08 per cent as profit-taking in 23 stocks weighed on performance.
The All-Share Index (ASI) of the Nigerian Exchange Limited (NGX) fell by 112.20 points to end at 141,546.80 basis points. Despite the dip, the ASI maintained positive returns of +0.9% month-to-date and +37.5% year-to-date. Market capitalisation also dropped by N71 billion, closing at N89.56 trillion.
Across sectors, losses were recorded in the Insurance (-0.6%), Consumer Goods (-0.4%), and Banking (-0.3%) indices. The Oil & Gas index gained 0.1%, while the Industrial Goods index remained flat.
Market breadth closed negative, with 27 losers against 23 gainers. Custodian Investment led the gainers with a 9.94% rise to N44.80 per share, followed by Multiverse Mining & Exploration (+9.68%), Eunisell Interlinked (+9.45%), eTranzact International (+9.45%), and Union Dicon Salt (+8.42%).
On the losers’ side, Austin Laz & Company shed 6.27% to close at N2.69, while Deap Capital Management & Trust lost 5.56%. FTN Cocoa Processors declined 4.84%, Regency Alliance Insurance fell 4.40%, and Champion Breweries dropped 4.26%.
Trading activity was weaker, with total volume falling 25.25% to 414.98 million units valued at N12.95 billion, across 25,386 deals. Guaranty Trust Holding Company (GTCO) was the most active stock, with 32.89 million shares worth N3.13 billion. It was followed by Secure Electronic Technology (32.49 million shares), UBA (26.22 million shares), Chams Holding Company (21.95 million shares), and Regency Alliance Insurance (18.99 million shares).
Looking ahead, Imperial Asset Managers Limited noted that the market is likely to witness a mixed trend, driven by bargain-hunting ahead of Tier-1 banks’ half-year 2025 earnings and interim dividend announcements. However, the firm also warned that profit-taking could remain elevated in the near term.
