Nigerian Stock Market Extends Losing Streak: Investors Lose N76.56bn as Profit-Taking Continues
By Aboki Forex —
The Nigerian stock market opened the week on a bearish note on Monday, July 27, as profit-taking dragged the benchmark index lower. Investors lost approximately N76.56 billion in market value, extending the previous session's losses.
The decline was driven by selling pressure across banking, insurance, consumer goods, and other large-cap stocks, despite buying interest in selected counters. The market's year-to-date return moderated to 58.88%.
Market Indicators and Sector Performance
At the close of trading, the NGX All-Share Index (ASI) declined by 0.05% to 247,238.74 points, down from 247,357.40 points in the previous session. Broad-based profit-taking hit major sectors as investors rebalanced their portfolios following recent gains.
Top losers included Transpower, which fell from N244.00 to N219.60, losing N24.40 (-10.00%). SUNU Assurances declined from N3.60 to N3.24, shedding N0.36 (-10.00%). International Breweries dropped from N13.70 to N12.35, down N1.35 (-9.85%). Neimeth International Pharmaceuticals fell from N9.20 to N8.30, losing N0.90 (-9.78%). Austin Laz & Company declined from N3.63 to N3.28, down N0.35 (-9.64%).
Top Gainers and Trading Activity
On the upside, CNIF rose from N127.60 to N140.30, gaining N12.70 (+9.95%). Thomas Wyatt Nigeria advanced from N3.63 to N3.99, adding N0.36 (+9.92%). Lasaco Assurance increased from N1.82 to N2.00, up N0.18 (+9.89%). Consolidated Hallmark Holdings (CMFC) climbed from N3.16 to N3.45, gaining N0.29 (+9.18%). Chams rose from N4.50 to N4.85, up N0.35 (+7.78%).
A total of 637.96 million shares valued at N57.20 billion were traded in 71,240 deals. Access Holdings led the activity chart with 47.57 million shares worth N1.37 billion. FCMB traded 40.33 million shares valued at N478.25 million. First HoldCo exchanged 34.20 million shares worth N4.25 billion. Champion Breweries recorded 33.15 million shares valued at N372.21 million. Zenith Bank traded 25.44 million shares worth N3.23 billion.
Access Holdings, FCMB, and First HoldCo were among the most actively traded stocks, while Transpower, SUNU Assurances, and International Breweries ranked among the top losers.
What This Means for Investors
The continued profit-taking signals that investors are locking in gains after a strong rally, with the year-to-date return still above 58%. The market remains sensitive to sector rotation and recommendation downgrades by capital market operators. Banking, insurance, and consumer goods stocks could see further volatility as portfolio rebalancing persists.