…Shares of BUA Cement plunged 10.00%, while First HoldCo lost 4.29%, Zenith Bank declined 1.72%, and Oando dropped 5.78%.
…The NASD Security Index (NSI) declined 0.21% to 4,324.68 points, while market capitalization fell by the same margin to N2.59 trillion.
MON JUNE 01 2026-theGBJournal| Nigeria’s equities market began the week on a weaker footing as investors locked in gains across several heavyweight counters, dragging the benchmark index lower and trimming the market’s year-to-date advance after months of strong performance.
The NGX All-Share Index (ASI) fell 1.13% to close at 247,560.66 points, its sharpest single-session decline in recent weeks, while market capitalization shed N1.81 trillion to settle at N158.79 trillion.
The pullback reduced the market’s year-to-date return to 59.09%, down from 60.90% in the previous session, underscoring the growing influence of profit-taking following the sustained rally that has characterized the market this year.
The decline was largely driven by selloffs in bellwether stocks, with cement, banking and energy names bearing the brunt of investor exits.
Shares of BUA Cement plunged 10.00%, while First HoldCo lost 4.29%, Zenith Bank declined 1.72%, and Oando dropped 5.78%.
The weakness in these large-cap stocks outweighed bargain hunting in select mid- and small-cap counters, where investors continued to seek value opportunities.
Among the gainers, Ikeja Hotel advanced 8.71%, May & Baker rose 7.07%, AIICO Insurance added 2.22%, while Tripple Gee & Company gained 9.86%, reflecting pockets of selective accumulation despite the broader market downturn.
Trading activity presented a mixed picture. Total transaction volume declined 6.38% from the previous session, suggesting some investors remained cautious after the recent rally.
However, the value of trades increased by 1.96%, indicating that institutional participation remained relatively strong, particularly in higher-priced stocks.
Abbey Mortgage Bank emerged as the most actively traded stock by volume, exchanging 291.16 million shares, while Aradel Holdings topped the value chart with transactions worth N6.31 billion, highlighting continued investor interest in fundamentally strong energy plays.
Market sentiment weakened noticeably as decliners outpaced advancers by a ratio of 35 to 25, leaving market breadth at a negative 0.71x. International Energy Insurance led the gainers’ chart with a 9.96% appreciation, while John Holt suffered the steepest decline, falling 9.73%.
Analysts said the latest correction reflects a healthy re-pricing phase rather than a fundamental deterioration in market conditions.
With the ASI still up nearly 60% this year, investors are increasingly reassessing portfolio allocations and rotating away from stocks that have underperformed or face limited upside potential.
In the over-the-counter segment, the NASD market also started the week on a negative note.
The NASD Security Index (NSI) declined 0.21% to 4,324.68 points, while market capitalization fell by the same margin to N2.59 trillion.
Unlike the NGX, however, trading activity on NASD surged sharply. Transaction volume jumped 438.25%, while trade value soared 465.87%, signaling heightened investor engagement despite the market’s decline.
Afriland Properties led the gainers with a 0.31% increase, while Central Securities Clearing System (CSCS) recorded the steepest loss, falling 6.62%.
The divergence between rising transaction activity and declining prices across both exchanges suggests investors remain active but increasingly selective, with profit-taking and portfolio rotation emerging as dominant themes as the market enters the second half of the year.
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