By Bamidele Famoofo
WorldStage– Activities in the Nigerian equities market is expected to kick off on a mixed and cautious note on Monday as weak sentiment and profit-taking continue to weigh on performance.
Elevated fixed-income yields and macroeconomic uncertainties may limit broad-based gains, though selective
buying could persist in fundamentally strong stocks, particularly in the banking and oil & gas sectors. Overall, trading activity is likely to remain stock-specific with continued short-term volatility.
The Nigerian equities market closed trading last week on a subdued note, extending its bearish momentum as widespread losses in heavyweight counters dragged overall performance.
The NGX All-Share Index (ASI) declined by 0.25 percent week-on-week to settle at 249,712.37 points, while market capitalisation fell to ₦160.08 trillion, eroding approximately ₦366 billion in market value.
Consequently, year-to-date returns moderated to 60.47 percent, reflecting increasingly cautious and risk-averse investor sentiment across the domestic bourse.
Market breadth weakened further, closing negative at 0.81x, with 43 gainers versus 53 decliners, signalling limited and highly selective buying interest.
Trading activity was also notably muted, as the number of deals, volume, and value traded declined by 15.89 percent, 48.57 percent, and 55.07 percent week-on-week, respectively.
In total, investors exchanged 3.87 billion shares valued at ₦161.72 billion across 335,326 deals, underscoring reduced market participation and weaker liquidity conditions.
On the gainers’ chart, ABCTRANS led with a strong 59.3% rally, followed by UPL (+25.0%), JAPAULGOLD (+22.0%), SKYAVN (+20.3%), and EUNISELL (+20.0%), largely driven by renewed demand in select mid- and low-cap stocks.
Conversely, the laggards’ table was dominated by SOVRENINS (-18.5%), RTBRISCOE (-16.9%), UPDCREIT (-14.3%), ABBEYBDS (-11.9%), and NB (-10.1%), reflecting profit-taking pressure and sustained sell-offs in previously rallied names.
Sectoral performance closed mixed, with selective gains offset by broad-based weakness across key indices. The Banking sector led performance, advancing by 1.11% week-on-week, supported by strong buying interest in STANBIC, ZENITHBANK, and FIDELITYBK.
The Consumer Goods sector gained 0.24%, buoyed by renewed investor interest in select counters, particularly UNILEVER NIGERIA PLC and MCNICHOLS PLC. Similarly, the Oil & Gas sector edged up by 0.07%, driven by gains in JAPAULGOLD.
On the downside, the Insurance sector declined sharply by 1.77%, pressured by profit-taking in MANSARD, LINKASSURE, and SOVRENINS.
The Industrial Goods sector also fell by 1.24 percent, reflecting weakened sentiment in CAP, BERGER, and TRIPPLE G, although gains in WAPCO and CUTIX partially cushioned losses. The Commodity index inched up marginally by 0.02 percent, supported by gains in OANDO, highlighting pockets of resilience within an otherwise subdued market environment.
On the gainers’ chart, ABCTRANS led with a 59.3% surge, followed by UPL (+25.0%), JAPAULGOLD (+22.0%), SKYAVN (+20.3%), and EUNISELL (+20.0%), driven by strong demand.
On the laggards’ list, SOVRENINS (-18.5%), RTBRISCOE (-16.9%), UPDCREIT (-14.3%), ABBEYBDS (-11.9%), and
NB (-10.1%) recorded the steepest declines, largely reflecting profit-taking and sustained sell pressure.
