Nigerian stocks lose N1.166 trillion as profit-taking hits NGX

Nigeria's stock market fell 0.73% on Tuesday as investors took profits, pulling the All-Share Index down by 1,806.18 points. Market capitalisation lost N1.166 trillion in a single session, with consumer goods and banking sectors among the hardest hit.

The All-Share Index closed at 246,723.57 points, down from 248,529.75 points in the previous session. Market capitalisation settled at N159.256 trillion, compared with N160.422 trillion the day before, according to data from the Nigerian Exchange Limited (NGX).

Sector performance and trading activity

The consumer goods index dropped 0.96%, while banking declined by 0.46%. Not all sectors moved lower. The insurance index gained 0.24%, the energy index added 0.03%, and the industrial goods index closed flat.

Trading activity surged sharply. A total of 3.9 billion shares valued at N32.4 billion changed hands across 45,608 deals. That compares with 1.1 billion shares worth N27.0 billion traded in 59,185 deals during the previous session. Volume rose by 254.55%, while the value of trades increased by 20.00%. The number of deals fell by 22.94%.

Top gainers and losers

UPDC REIT gained 10.00%, rising to N14.85 per share. FTN Cocoa Plc gained 9.88%, increasing to N8.90 per share. C&I Leasing Plc surged 8.26%, climbing to N5.90 per share. Sovereign Trust Insurance rose by 6.74% to N1.90 per share. Regency Alliance gained 6.33%, rising to 84 kobo per share.

On the downside, Thomas Wyatt Plc declined by 9.97%, falling to N2.89 per share. AVA Capital Plc dropped 9.60% to N8.95 per share. International Energy Insurance Plc dipped 6.32% to N4.00 per share. International Breweries Plc declined by 5.98% to N11.00 per share. Guinea Insurance Plc shed 5.13% to 74 kobo per share.

Most traded stocks

Fortis Global Insurance recorded a turnover of 3.3 billion shares valued at N9.6 billion. Trans-Nationwide Express traded 84.6 million shares worth N181.9 million. Access Holdings Plc recorded 66.1 million shares valued at N1.9 billion. Consolidated Hallmark Holdings exchanged 54.3 million shares worth N379.4 million. Fidelity Bank Plc traded 46.9 million shares valued at N1.0 billion.

For investors and Nigerian businesses, the session reflects growing caution after recent gains. Profit-taking is a normal market correction, but the sharp drop in market capitalisation shows how quickly sentiment can shift on the NGX.