Nigeria’s equities market opened the week on a bearish note, as gains in GTCO Plc, Access Holdings Plc, and 14 other stocks were insufficient to counter broad-based losses across major sectors particularly financial services at Monday’s trading session.
The benchmark Nigerian Exchange (NGX) All-Share Index (ASI) slipped 0.08% to 143,614.61 points, down from 143,722.62 points on Friday. This decline erased N68.69 billion from the market’s total capitalisation, bringing it to N91.35 trillion.
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The downtrend also dragged the year-to-date return to +39.53%, from +39.64% recorded at the end of the previous week, as investors adopted a cautious stance amid uncertainties around Capital Gains Tax (CGT) implementation and the future direction of monetary policy.
Market Summary
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Current ASI: 143,614.61
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Previous ASI: 143,722.62
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Day Change: -0.08%
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YTD Performance: +39.53%
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Volume Traded: 694.78 million units
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Value Traded: N28.67 billion
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Market Cap: N91.35 trillion
Top Five Gainers
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ETRANZACT: +9.06% → N14.45
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INTENEGINS: +8.49% → N2.30
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MCNICHOLS: +7.00% → N2.75
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CILEASING: +5.47% → N5.59
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UPDC: +5.26% → N6.00
Top Five Losers
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FG152028S1: -69.39% → N30.00
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NPFMCRFBK: -7.85% → N2.70
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PRESTIGE: -7.48% → N1.36
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STERLINGNG: -6.94% → N6.70
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WAPIC: -6.18% → N2.43
Sector Performance
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Insurance: -0.8%
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Oil & Gas: -0.6%
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Banking: -0.3%
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Industrial Goods: Flat
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Consumer Goods: Flat
GTCO, Access Holdings Provide Some Lift Despite Banking Sector Weakness
Despite a generally negative mood in the banking sector which saw the banking index fall 2.3%, GTCO Plc and Access Holdings Plc bucked the trend.
GTCO dominated the session:
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203.85 million shares traded
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Value: N17.24 billion
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Closed 0.36% higher at N84.80
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Executed across 973 deals
Access Holdings also advanced 1.46% to N20.80, with 21.88 million shares traded in 1,262 deals.
Major Banking Stocks Pressure Index Lower
Losses across key lenders deepened market weakness:
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UBA: -2.85%
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Sterling Financial Holdings: -6.94%
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Fidelity Bank: -0.26%
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Zenith Bank: -0.4%
Fidelity Bank saw 131.51 million units traded at N19.05, signalling profit-taking after recent rallies.
NPF Microfinance Bank led the losers with a 7.85% decline.
Overall, decliners outpaced gainers 26 to 16, underscoring weak market sentiment.
Turnover Rises Despite Bearish Close
Market turnover improved, with total traded volume rising 5.8% to 694.78 million units, valued at N28.67 billion, in 24,041 deals. Activity was largely driven by heavy transactions in GTCO and Access Holdings.
Outside financials, pockets of resilience particularly in eTranzact (+9.06%), Unilever Nigeria (+4.35%), and select growth-oriented stocks offered some counterweight.
The NGX Growth Index emerged as the sole gainer among major indices, rising from 13,925.92 to 14,068.77, reflecting sustained investor interest in high-growth companies.
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