Stock Market Loses ₦1.3tn as Sell-Off Extends Losing Streak

By Opeyemi Adelakun

The Nigerian stock market began the week on a bearish note on Monday as investors lost ₦1.315tn following another wave of sell-offs that dragged major equities lower across the Nigerian Exchange.

The sustained decline marked the second consecutive trading session of losses, with the benchmark All-Share Index dropping by 2,049.65 points, or 0.84 per cent, to close at 241,749.11 points.

The market capitalisation also fell from the previous session to ₦155.130tn as widespread profit-taking in highly capitalised and medium-tier stocks weighed heavily on overall market performance.

Investor sentiment remained negative throughout the session, with 44 stocks recording price declines against 19 gainers.

PZ Cussons Nigeria led the losers’ chart after shedding 10 per cent to close at ₦81.00 per share, while BUA Cement declined by 9.99 per cent to ₦306.20. Red Star Express also fell by 9.98 per cent to close at ₦22.10.

Other stocks that ended lower included NASCON Allied Industries, Cadbury Nigeria and FBN Holdings.

On the gainers’ table, International Breweries recorded the strongest performance, rising 9.77 per cent to ₦14.60 per share. Nigerian Aviation Handling Company gained 8.36 per cent, while UACN appreciated by 8.11 per cent.

Despite the market downturn, trading activity strengthened considerably as investors exchanged 523.54 million shares valued at ₦22.27bn in 59,945 deals, representing an 18.7 per cent increase in trading volume.

FCMB Group emerged as the most actively traded stock by volume with 102.24 million shares worth ₦1.02bn. International Breweries and Access Holdings also recorded significant trading activity, while Stanbic IBTC Holdings posted the highest value turnover at ₦2.87bn.

Analysts said the latest decline reflects continued cautious investor sentiment as market participants reassess valuations and react to renewed selling pressure in some of the exchange’s biggest stocks.