The Nigerian Exchange (NGX) saw its market capitalisation drop by ₦152 billion on Tuesday as investors cashed in on recent stock gains. The sell-off, driven by profit-taking in medium- and large-cap stocks, resulted in the All-Share Index declining by 0.24% to close at 103,398.82 points.
The insurance sector, which had experienced significant gains earlier in the year, was hit hardest, with investors locking in profits. Despite the overall decline, trading activity increased, with the volume of shares traded rising by 29.94% and the value of trades up by 10.48%. Data from Atlass Portfolios Limited showed that 1.11 billion shares worth ₦14.64 billion were traded in 16,617 deals.
Top Performers and Decliners
FBN Holdings (FBNH) led trading activity, accounting for 14.55% of total volume and 32.26% of total value traded. Other active stocks included AIICO (10.87%) and Tantalizer (9.44%). On the gainers’ list, ABBEYBDS and PZ saw a 10% increase each, followed by LEARNAFRICA (+9.90%) and NCR (+9.77%).
On the losing side, FTN Cocoa, RT Briscoe, and Veritas Kapital recorded the steepest declines, dropping 10% each. Other notable decliners included Cornerstone Insurance (-9.98%), Honeywell Flour (-9.92%), and Vitafoam (-7.79%).
Sectoral Highlights
Four of the five major sectors recorded losses. The insurance sector fell sharply by 7.68%, followed by banking (-0.64%), consumer goods (-0.38%), and oil & gas (-0.10%). The industrial sector remained unchanged.
With 50 stocks declining and only 19 gaining, the market breadth closed negative, reflecting cautious sentiment among investors. The day’s activities brought the NGX's total market capitalisation to ₦63.05 trillion.
Market participants are now looking ahead to the release of December’s inflation data, which could shape trading activity in the days ahead.
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