…All-Share Index (ASI) declined 0.84 per cent to close at 241,749.11 points
TUE JULY 14 2026-theGBJournal| Nigeria’s equities market began the week on a softer footing on Monday, surrendering part of last week’s strong rally as investors locked in profits across heavyweight banking and industrial stocks, dragging the benchmark index lower despite pockets of buying interest in select financial and consumer names.
The Nigerian Exchange (NGX) All-Share Index (ASI) declined 0.84 per cent to close at 241,749.11 points, while investors shed N1.31 trillion in market value as total capitalisation eased to N155.13 trillion.
The decline also trimmed the market’s year-to-date return to 55.35 per cent, signalling a moderation in the strong gains recorded since the beginning of the year.
Monday’s decline marked a reversal from the bullish momentum that dominated the previous week, with widespread profit-taking outweighing bargain hunting in a handful of large-cap counters.
The selloff was led by BUA Cement, which plunged 9.99 per cent, while Zenith Bank fell 3.25 per cent and First HoldCo shed 5.20 per cent as investors took profits following recent price appreciation.
The losses more than offset gains in Access Holdings, which edged up 0.20 per cent, Stanbic IBTC Holdings, which rose 3.15 per cent, and International Breweries, which rallied 9.77 per cent to emerge among the day’s strongest performers.
Despite the weaker market performance, investor participation improved considerably.
Total trading volume climbed 18.65 per cent to 523.54 million shares, while the value of transactions increased 14.81 per cent to N22.28 billion, suggesting that investors remained active even as sentiment turned cautious.
AIICO Insurance dominated the volume chart after 40.17 million shares changed hands, reflecting sustained interest in insurance counters.
By value, Livestock Feeds led trading activity with N1.89 billion worth of shares exchanged, despite the stock declining 2.70 per cent during the session.
Market breadth underscored the broadly negative sentiment.
Declining stocks significantly outnumbered gainers, with the breadth ratio settling at 0.46x. A total of 48 equities closed lower against 22 gainers, highlighting the extent of the market-wide correction.
PZ Cussons Nigeria topped the losers’ table after falling the maximum 10.00 per cent, while International Breweries led advancing stocks with a 9.77 per cent gain.
In contrast to the weakness on the NGX, the NASD Over-the-Counter (OTC) market extended its positive run, reflecting continued investor appetite for unlisted securities.
The NASD Security Index (NSI) advanced 0.36 per cent to 4,311.67 points, lifting market capitalisation by the same margin to N2.59 trillion.
The performance pushed the OTC market’s year-to-date return higher to 21.67 per cent.
Trading activity on the NASD was significantly stronger than in the previous session. Total traded volume surged 615.99 per cent, while the value of transactions jumped 997.06 per cent, with investors exchanging 9.13 million shares valued at N320.37 million across 28 deals.
On the OTC performance table, SD11PLC emerged as the session’s best-performing stock with a 9.09 per cent gain, while SDFOODCPT recorded the steepest decline after losing 9.80 per cent.
Meanwhile, activity in the foreign exchange market remained relatively stable, although the naira weakened marginally.
The official exchange rate depreciated by 7 basis points to close at N1,381.00 per US dollar, indicating continued but limited pressure on the domestic currency.
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