NGX equities dip as market capitalisation falls to N160.85tn

Nigerian equities closed lower on Monday as market capitalisation settled at N160,852,829,571,649.00 on the Nigerian Exchange Limited. The benchmark All Shares Index retreated to 247,736.24 points, with the Central Bank of Nigeria holding the Monetary Policy Rate at 23.00 per cent.

Over the preceding weekly trading period, the index moved between a peak of 250,273.50 points and a low of 247,736.24, giving an average of 248,902.51 points. Market-wide activity recorded 52,891 deals, with investors exchanging a cumulative volume of 405,359,288 securities across all active boards.

Sector indices follow the market down

Almost every sector gauge mirrored the broader decline. The NGX Main-Board Index slipped to 10,751.25, the NGX 30 Index contracted to 9,114.65, and the NGX Banking Index dipped to 2,567.52.

The NGX Pension Index closed lower at 12,892.22, the NGX Insurance Index adjusted to 1,082.56, and the NGX Consumer Goods Index managed a marginal close at 4,035.46 points.

Industrial goods held up better. The NGX Industrial Index closed at 10,442.78, while the NGX Oil and Gas Index ended the session at 5,993.51.

MTN, Dangote, Seplat in the mix

Large caps recorded mixed volumes and price movements. On the Premium Board, MTN Nigeria Communications Plc traded at N844.00 with a total volume of 1,769,623 shares. Dangote Cement Plc exchanged hands at N1,066.70.

Seplat Energy Plc stayed active at N16,000.10 with 52,474 shares traded.

Financial services counters continued to pull the heaviest liquidity. Zenith Bank Plc traded at N129.00 with a volume of 27,980,069 shares, while Access Holdings Plc recorded a share price of N28.25 alongside 33,283,797 units changing hands.

Fixed income and funds stay on schedule

Other asset categories, including fixed-income debt securities, exchange-traded products and collective investment mutual funds, kept their regular scheduled listings and pricing evaluations in line with official market summaries.

The pullback leaves the NGX below the 250,000 point mark as investors weigh the CBN's decision to hold the benchmark rate at 23.00 per cent. For Nigerian businesses and consumers, a flat naira yield environment keeps the cost of credit elevated, which tends to push domestic funds toward fixed-income instruments rather than equities.