Market Capitalisation Drops by N1.3 Trillion Following Stock Price Slump

The Nigerian stock market began the week on a bearish note on Monday, recording its second consecutive day of losses as investors sold off shares across major sectors.

The downturn wiped approximately N1.315 trillion from the market’s total value.

The Nigerian Exchange (NGX) All-Share Index dropped by 2,049.65 points, representing a decline of 0.84 percent, to close at 241,749.11 points.

As a result, the market capitalisation fell to N155.13 trillion.

The decline was largely driven by price losses in several highly capitalised and mid-sized companies.

Market sentiment remained negative, with 44 stocks closing lower compared to 19 gainers.

PZ Cussons Nigeria recorded the highest loss of the day, falling 10 percent to close at N81.00 per share. BUA Cement followed closely with a 9.99 percent decline to N306.20, while Red Star Express lost 9.98 percent to settle at N22.10 per share.

Other major losers included NASCON Allied Industries, Cadbury Nigeria, and FBN Holdings.

On the positive side, International Breweries emerged as the best-performing stock, gaining 9.77 percent to close at N14.60 per share. Nigerian Aviation Handling Company (NAHCO) rose by 8.36 percent, while UACN advanced 8.11 percent.

Despite the overall market decline, trading activity improved significantly. Investors traded 523.54 million shares worth N22.27 billion in 59,945 deals, representing an 18.7 percent increase in trading volume compared to the previous session.

FCMB Group led the activity chart with 102.24 million shares traded, valued at N1.02 billion. International Breweries and Access Holdings also recorded strong trading volumes, while Stanbic IBTC Holdings posted the highest value turnover, with shares worth N2.87 billion exchanged during the session.

The latest market performance highlights continued investor caution as profit-taking and selling pressure weigh on stock prices across the Nigerian Exchange.

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