Equities Market Opens Week Low By N8bn Loss

The domestic stock market yesterday began the week on a bearish trend as investors’ investment down by N8 billion.

The All-Share Index (ASI) lost by 12.54 points, representing a loss of 0.01 per cent to close at 109,697.83 points. Also, market capitalisation lost N8 billion to close at N68.945 trillion.

The overall downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Transcorp Hotels, MTN Nigeria Communications (MTNN), PZ Cussons Nigeria, Nigerian Aviation Handling Company (NAHCO) and Fidelity Bank.

Looking forward, United Capital Plc said, “the equities market will be relatively dovish this week. On one side, investors’ expectation of the MPC action on Tuesday will make the equities market quiet at the start of the week.

“At mid-week, the NT-bills auction slated for Wednesday might switch investors’ attention from the equities market to the money market. Also, barring any tangible inflows, anticipated system deficit might decline buy-interest in the equities market. Nevertheless, there might be some pockets of buying activities arising from the filing of impressive Q1 2025 results.

Given the above, we advise PMs to adopt an opportunistic approach taking advantage of intra-day gains in the equities market.”

Despite the decline, investor sentiment, as measured by market breadth, closed positive as 46 stocks gained, while 23 lost. Ikeja Hotels and Tantalizers recorded the highest price gain of 10 per cent each to close at N15.40 and N2.53 respectively, while Beta Glass followed with a gain of 9.98 per cent to close at N258.50, per share.

Champion Breweries and Northern Nigeria Flour Mills (NNFM) appreciated by 9.97 per cent each to close at N7.50 and N131.85 respectively, while Multiverse Mining & Exploration rose by 9.94 per cent to close at N8.85, per share.

On the other hand, The Initiates Plc (TIP) led the losers’ chart by 10 per cent to close at N6.12, per share. ABC Transports followed with a decline of 9.83 per cent to close at N2.66, while University Press declined by 9.77 per cent to close at N3.97, per share.

FTN Cocoa Processors depreciated by 9.65 per cent to close at N2.34, while R.T. Briscoe Nigeria declined by 9.52 per cent to close at N1.90, per share.

Meanwhile, the total volume traded rose by12.6 per cent to 486.087 million units, valued at N11.382 billion, and exchanged in 24,883 deals. Transactions in the shares of Access Holdings topped the activity chart with 45.117 million shares valued at N1.053 billion. Fidelity Bank followed with 439.413 million shares worth N799.700 million, while Guaranty Trust Holding Company (GTCO) traded 32.443 million shares valued at N2.207 billion.

Cutix traded 24.086 million shares valued at N67.023 million, while United Bank for Africa (UBA) sold 20.593 million shares worth N716.686 million.