Nigeria’s equities market began the week on a softer footing as a wave of sell-offs—particularly in the financial services sector—pushed the benchmark indices lower despite pockets of resilience from GTCO Plc, Access Holdings Plc and a handful of other gainers.
The Nigerian Exchange (NGX) All-Share Index (ASI) slipped by 0.08% to 143,614.61 points, down from 143,722.62 recorded at the previous session. Market capitalisation also fell by ₦68.69 billion, closing at ₦91.35 trillion. The decline extended the market’s recently muted performance and dragged year-to-date returns to 39.53%, as investors continued to adopt a cautious stance amid uncertainty surrounding Capital Gains Tax (CGT) implementation and future monetary policy directions.
Market Snapshot
- ASI: 143,614.61 points
- Previous ASI: 143,722.62
- Day Change: -0.08%
- YTD Return: +39.53%
- Volume: 694.78 million units
- Value: ₦28.67 billion
- Market Cap: ₦91.35 trillion
Top Gainers
- ETRANZACT: +9.06% to ₦14.45
- INTENEGINS: +8.49% to ₦2.30
- MCNICHOLS: +7.00% to ₦2.75
- CILEASING: +5.47% to ₦5.59
- UPDC: +5.26% to ₦6.00
Top Losers
- FG152028S1: -69.39% to ₦30.00
- NPFMCRFBK: -7.85% to ₦2.70
- PRESTIGE: -7.48% to ₦1.36
- STERLINGNG: -6.94% to ₦6.70
- WAPIC: -6.18% to ₦2.43
Sectoral Performance
- Insurance: -0.8%
- Oil & Gas: -0.6%
- Banking: -0.3%
- Industrial Goods: Flat
- Consumer Goods: Flat
GTCO, Access Provide Bright Spots in a Weak Banking Session
While the banking sector closed 2.3% lower amid widespread sell pressure, GTCO and Access Holdings defied the downbeat mood. GTCO dominated both volume and value charts, trading 203.85 million shares worth ₦17.24 billion across 973 deals. The stock inched up 0.36% to close at ₦84.80.
Access Holdings also recorded positive movement, rising 1.46% to ₦20.80 after 21.88 million units changed hands in 1,262 trades. Their gains, however, were insufficient to counterbalance notable weaknesses in other tier-1 and mid-tier banks.
Major Banking Stocks Drag the Market Lower
Losses in UBA (-2.85%), Sterling Financial Holdings (-6.94%), and Fidelity Bank (-0.26%) deepened the sector’s downturn. Transcorp also shed 1.10%, contributing additional weight to the index.
Fidelity Bank recorded a sizable volume of 131.51 million shares traded at ₦19.05 across 588 deals, with the pullback attributed to investor profit-taking after recent upward movements. NPF Microfinance Bank led the losers’ chart overall, sliding 7.85%.
By the session's close, decliners significantly outnumbered gainers, reflecting weak investor sentiment and continued caution.
Turnover Rises Even as Sentiment Stays Soft
Despite the market’s negative close, trading activity was stronger. Total volume rose 5.8% to 694.78 million units valued at ₦28.67 billion in 24,041 deals, buoyed largely by heavy trades in GTCO and Access Corp.
Outside the financial sector, select growth-oriented stocks offered some resilience. eTranzact (+9.06%), Unilever Nigeria (+4.35%) and several high-growth counters helped lift the NGX Growth Index, which advanced from 13,925.92 to 14,068.77. In total, 26 stocks declined while 16 gained.