Nigerian Stock Market Loses N220bn as Consumer and Industrial Goods Drag Index

Nigeria’s equities market slipped into the red on Monday, with investors wiping off N220 billion in market value amid sustained sell pressure in consumer and industrial goods stocks, led by Nigerian Breweries.

Figures from the Nigerian Exchange (NGX) show that market capitalisation fell to N89.5 trillion from N89.72 trillion recorded on Friday. Similarly, the All-Share Index dipped by 347.12 points (0.24%), closing at 141,498.20 points.

The downturn reflects a challenging start to the week, leaving the bourse with a 0.11% loss on a weekly basis, despite posting a 0.35% gain in the last four weeks and a 37.48% year-to-date growth.

Trading activity, however, showed improvement. Investors exchanged 488.5 million shares worth N13.71 billion across 28,598 deals — representing a 13% rise in volume, 2% increase in turnover, and 18% surge in transactions compared with the previous session.

Out of 125 listed equities that traded, 22 closed positive while 28 posted losses. Royal Exchange topped the gainers’ chart, rising 9.8% to N2.24 per share, followed by Secure Electronic Technology (+6.67% to N0.80), Chams (+6.13% to N3.29), Prestige Assurance (+5.75% to N1.84), and Daar Communications (+5.66% to N1.12).

Market watchers say sentiment remains fragile, with investors reacting to weaker performance in consumer-facing companies, even as the overall year-to-date performance stays firmly positive.