The Nigerian equities market sustained its downward trajectory on Tuesday, as renewed sell pressure across key sectors dragged the benchmark index lower. The NGX All-Share Index fell by 0.72 percent to close at 152,629.60 points, trimming the year-to-date return to 48.29 percent. Market capitalisation also contracted by N611.97 billion, settling at N96.97 trillion.
The negative performance was largely driven by steep losses in Nestlé Nigeria Plc, Guaranty Trust Holding Company Plc, Oando Plc, and Zenith Bank Plc, which collectively pulled the market lower. Consequently, the month-to-date return worsened to -1.0 percent, reflecting persistent profit-taking and a risk-off sentiment among investors.
Market breadth remained distinctly negative, as 40 decliners significantly outnumbered 17 gainers. On the performance board, Sunu Assurances Nigeria Plc, Honeywell Flour Mills Plc, Eunisell Interlinked Plc, Livestock Feeds Plc, and Tripple Gee and Company Plc emerged as the day’s top advancers. Conversely, NASCON Allied Industries Plc, Skyway Aviation Handling Company Plc, Oando Plc, UPDC Plc, and Learn Africa Plc recorded notable price declines.
Sectoral performance reflected broad-based weakness, with the Insurance, Banking, Consumer Goods, and Oil & Gas indices declining by 3.76 percent, 2.05 percent, 1.49 percent, and 0.78 percent respectively. The Industrial Goods index was marginally unchanged, while the Commodity sector also recorded no movement.
Trading activity showed mixed signals. Total traded volume rose by 8.99 percent to 683.92 million units, even as transaction value fell by 18.50 percent to N20.38 billion and the number of deals declined by 8.61 percent to 33,288. This pattern indicates reduced high-value institutional participation and cautious retail trading amid heightened portfolio rebalancing and risk aversion.
ASO Savings and Loans Plc was the most traded stock by volume, with 111.95 million units exchanged, while Stanbic IBTC Holdings Plc led by value at N3.12 billion.
Analysts noted that lingering macroeconomic uncertainties, coupled with profit-taking in large-cap stocks, continue to dampen investor confidence. They added that sentiment is expected to remain fragile in the near term, pending fresh catalysts that could drive renewed buy interest.
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