The Nigerian stock market kicked off the week with a loss of N76 billion as investors engaged in profit-taking activities. This selling pressure affected several mid-cap and large-cap stocks, pushing the overall market lower.
By the end of the session, the NGX All-Share Index fell by 0.05 percent, settling at 247,238.74 basis points compared to the previous 247,357.40. Consequently, the total market capitalisation slipped to N159.511 trillion from an initial N159.587 trillion.
Trading activity ended with a negative market breadth, featuring 32 companies recording losses against 28 gainers. CNIF led the upward movement with a 9.95 percent increase, reaching N140.30. Other notable gainers included Thomas Wyatt Nigeria Plc, Lasaco Assurance Plc, Consolidated Hallmark Holdings, and Chams Holding Company.
On the downside, SUNU Assurances Nigeria Plc experienced the steepest decline, dropping 10 percent. Other significant losers included Transcorp Power Plc, International Breweries Plc, Neimeth International Pharmaceuticals, and Austin Laz & Company.
Although some buying interest was noted in the consumer goods and insurance sectors, the overall atmosphere remained cautious. Investors prioritized securing profits following recent market growth, which ultimately suppressed buying demand.
