The Nigerian equities market opened the week on a marginally bearish note on Monday, as mild profit-taking activity dragged key performance indicators lower on the Nigerian Exchange Limited.
At the close of trading, the market capitalisation of listed equities declined slightly by N81bn or 0.05 per cent to close at N160.362tn, down from the N160.443tn recorded in the previous session.
Similarly, the benchmark All-Share Index eased by 126.09 points to close at 250,204.83 points from 250,330.92 points, reflecting a broadly cautious trading session.
Market breadth closed negative, with 33 gainers against 36 decliners, indicating a slight tilt towards selling pressure across listed equities as investors locked in profits from recent rallies.
On the local bourse, energy firm Oando Plc led the top gainers, advancing 10.00 per cent to close at N51.70 per share, up from N47.00 in the previous session. Educational publisher UPL Plc followed closely with a 10.00 per cent gain, closing at N5.50 from N5.00.
Deap Capital Management & Trust Plc appreciated 9.96 per cent to close at N5.96, while pharmaceutical manufacturer May & Baker Nigeria Plc rose 9.94 per cent to settle at N52.00. Hospitality counter Transcorp Hotels Plc completed the top five gainers’ list with a 9.92 per cent growth, closing at N7.76.
Conversely, NCR Nigeria Plc topped the laggards’ chart, shedding 9.99 per cent to close at N161.20 per share from its previous close of N179.10. Zichis Agro Allied Industries Plc also declined 9.99 per cent to settle at N26.49, while international marketing firm IMG Plc dropped 9.93 per cent to close at N38.10.
Sovereign Trust Insurance Plc lost 9.93 per cent to close at N2.65, and media firm Daar Communications Plc shed 9.78 per cent of its value to close the day at N2.03.
Meanwhile, high-capitalisation blue-chip stocks, including MTN Nigeria Communications Plc, Dangote Cement Plc, Julius Berger Nigeria Plc, Guinness Nigeria Plc, and Cadbury Nigeria Plc, closed flat for the session. The stall reflected a cautious stance among institutional investors holding positions in heavyweight counters.
Overall, trading activity maintained a balanced but slightly negative tone, as market participants continued to engage in selective positioning amid profit-taking in recent gainers and strategic rotation into defensive consumer and industrial plays.
Reviewing previous market drivers, the Head of Research at GTI, Abiodun Ogunniyi, noted that sector-specific momentum had largely anchored market volumes.
“Last week, robust activity in Finance, ICT, and Services drove market turnover, with FBN Holdings, UBA, and Chams as the top three traded equities,” Ogunniyi said.
Looking ahead to trading expectations for the rest of the week, the research head pointed towards emerging bargain-hunting opportunities on specific tickers despite the initial downswing.
Ogunniyi added, “This week, we expect selective interest in The Initiates PLC, ZICHIS, and ARADEL following recent profit-taking pressures, alongside a potential rerating of Meyer. Overall sentiment should remain cautiously positive as investors continue to track selective names for early-week positioning.”
Market analysts added that overall investor sentiment remains stable, with market participants expected to closely monitor upcoming corporate quarterly earnings releases and macroeconomic signals for clearer directional cues in subsequent sessions.
