Nigerian stock market falls 0.67% as profit-taking drags equities lower

The Nigerian Exchange (NGX) extended its losing streak on Tuesday, shedding 0.67% as widespread profit-taking weighed heavily on the market.

The All-Share Index (ASI) dropped to 138,780.55 points from the previous 139,722.19, while market capitalization fell to N87.81 trillion from N88.70 trillion.

A total of 405 million shares worth N39.8 billion were exchanged in 31,127 deals during the session.

Market sentiment remained weak, with 49 stocks closing in the red against just 9 gainers.

Top Gainers

NCR led the chart, advancing 9.96% to close at N12.70, up from N11.55.

AUSTINLAZ rose 9.66%, while TANTALIZER and MULTIVERSE appreciated by 6.09% and 5.50%, respectively.

Top Losers

AIICO Insurance, Prestige Assurance, and Consolidated Hallmark Insurance declined by 10% each, topping the losers’ chart.

ELLAHLAKES and PZ also plunged by 9.93% and 9.89%, respectively.

Activity Drivers

GTCO was the most active, trading 36 million units in 1,584 deals, valued at ₦3 billion.

ACCESSCORP followed with 30 million shares in 1,529 deals, worth N768 million.

AIICO Insurance recorded 22 million shares in 849 deals, totaling N77 million.

The persistent sell-off signals continued investor caution as market players lock in gains after previous rallies.