The Nigerian equities market opened the week on a weaker note as losses across major sectors outweighed modest gains from GTCO Plc, Access Holdings Plc, and 14 other advancing stocks. The downturn reflected broad selling pressure, especially in the financial services sector, which continued to influence overall market performance.
The NGX All-Share Index fell to 143,614.61 points from 143,722.62 points, marking a 0.08% decline from Friday’s close. Market capitalisation dipped by N68.69 billion to N91.35 trillion, extending the market’s soft trajectory.
The year-to-date return eased to +39.53% from 39.64%, signaling a slowdown in momentum as investors awaited clarity on Capital Gains Tax implementation and monetary policy direction. Turnover improved despite the weak close, with 694.78 million units valued at N28.67 billion traded across the session.
Despite a sector-wide slump that pushed the broader banking index down by 2.3%, GTCO and Access Holdings emerged as strong performers. GTCO led both volume and value activity with 203.85 million shares traded at N17.24 billion, closing 0.36% higher at N84.80.
Access Holdings also gained 1.46% to end at N20.80, supported by 21.88 million shares exchanged in 1,262 transactions. Their strong activity helped cushion the market from deeper declines but could not reverse the broader bearish tone.
UBA lost 2.85%, Sterling Financial Holdings fell 6.94%, and Fidelity Bank slipped 0.26%, dragging the index lower. Transcorp also dropped 1.10%, reinforcing persistent sell-side pressure.
Fidelity Bank traded 131.51 million units at N19.05 across 588 deals, reflecting clear cases of investor profit-taking after recent gains. NPF Microfinance Bank topped the losers’ chart with a 7.85% decline, underlining weak sentiment across mid-tier financial stocks.
The top gainers included eTranzact (+9.06% to N14.45), INTENEGINS (+8.49%), MCNICHOLS (+7%), CILEASING (+5.47%), and UPDC (+5.26%), offering pockets of strength. However, these gains were overshadowed by sharper declines in FG152028S1 (-69.39%), NPFMCRFBK (-7.85%), PRESTIGE (-7.48%), STERLINGNG (-6.94%), and WAPIC (-6.18%).
Outside financials, optimism in high-growth companies lifted the NGX Growth Index from 13,925.92 to 14,068.77, making it the only major index to close higher. Market breadth remained negative with 26 losers compared to 16 gainers, reinforcing the cautious tone across the market.
