Nigerian Bourse slips back into red, sheds 0.11% amid renewed sell pressure

The Nigerian stock market slipped back into negative territory on Monday, after a brief respite on Thursday and Friday last week, the market returned to a bearish close as profit-taking and cautious sentiment resurfaced. Investors maintained a defensive posture throughout the session, reflecting the absence of strong domestic catalysts and ongoing macroeconomic uncertainty.

The All Share Index dropped by 0.11% to close at 143,210.33 points from the previous close of 143,374.31 points.

The Market Capitalisation fell by 0.11% to close at N91.089 trillion from the previous close of N91.193 trillion, thereby shedding N104 billion.

An aggregate of 1.47 billion units of shares were traded in 28,956 deals, valued at N18.67 billion.

The Market Breadth closed negative as 19 equities emerged as gainers against 26 equities that declined in their share prices.

Percentage Gainers

NCR led other gainers with 9.97% growth to close at N60.10 from the previous close of 54.65.

Sunu Assurance, Champion Breweries and MECURE also grew their share prices by 9.18%, 8.11% and 7.58% respectively.

Percentage Losers

International Breweries led other price decliners as it shed 10.00% of its price to close at N10.35 from the previous close of N11.50.

RTBRISCOE and Cornerstone Insurance among other price decliners also shed their share prices by 9.88% and 7.83% respectively.

Volume Drivers

Wema Bank traded about 114 million units of its shares in 357 deals, valued at N2 billion.

ACCESSCORP traded about 94 million units of its shares in 1560 deals, valued at N1.97 billion.

Fidelity Bank traded about 60 million units of its shares in 471 deals, valued at N1.13 billion.