Equities Market Sheds N1.14trn As Investors Lock In Gains

The Nigerian equities market reversed its recent bullish momentum on Tuesday, shedding N1.14 trillion as investors moved to lock in gains.

The downturn came on the heels of the conclusion of the first 2026 meeting of the Monetary Policy Committee of the Central Bank of Nigeria (CBN).

After reviewing global and domestic economic conditions, the committee unanimously voted to reduce the benchmark interest rate, cutting the Monetary Policy Rate (MPR) by 50 basis points to 26.5 per cent.

Despite the equity market’s pullback, analysts believe the rate cut could provide medium- to long-term support for stocks. Cowry Assets Management Limited said declining interest rates may gradually reduce the attractiveness of fixed-income instruments.

“With interest rates beginning to come down, fixed-income returns may become less attractive over time. This supports continued interest in equities and other risk assets, especially for investors seeking better long-term returns,” the firm stated.

Market watchers note that while short-term profit-taking weighed on performance, the easing monetary stance could sustain investor appetite for equities in the months ahead.

The All-Share Index shed by 1,778.95 points, representing a loss of 0.91 per cent, to close at 194,484.61 points. Similarly, the overall market capitalisation value depreciated by N1.142 trillion to close at N124.827 trillion.

The market negative performance was driven by price depreciation in large and medium capitalised stocks which are; BUA Foods, MTN Nigeria Communications (MTNN), Stanbic IBTC Holdings, Julius Berger Nigeria and R.T. Briscoe.

Investor sentiment remained weak amid the broad-based selloff, with market breadth closing negative, as 27 stocks advanced against 41 decliners. Jaiz Bank recorded the highest price gain of 10 per cent to close at N12.76, per share. Infinity Trust Mortgage Bank followed with a gain of 9.83 per cent to close at N19.00, while FCMB Group rose by 9.72 per cent to close at N13.55, per share.

Fortis Global Insurance appreciated by 9.09 per cent to close at 72 kobo, while Sterling Financial Holdings Company up by 7.50 per cent to close at N8.60, per share.

On the other hand, DAAR Communications and Tantalizers led the losers’ chart by 10 per cent each to close at N2.25 and N4.86 respectively, while BUA Foods followed with a decline of 9.99 per cent to close at N760.60, per share.

Ellah Lakes depreciated by 9.96 per cent to close at N10.40, while Japaul Gold & Ventures and R.T. Briscoe declined by 9.95 per cent respectively to close at N3.80 and N11.50 respectively, per share.

Also, the total volume traded declined by 11.74 per cent to 1.137 billion units, valued at N53.353 billion, and exchanged in 72,218 deals. Transactions in the shares of Japaul Gold & Ventures topped the activity chart with 102.443 million shares valued at N399.775 million. Access Holdings followed with 97.867 million shares worth N2.588 billion, while Fortis Global Insurance traded 75.183 million shares valued at N54.132 million.

Zenith Bank traded 67.621 million shares valued at N6.169 billion, while FCMB Group sold 46.391 million shares worth N612.174 million.