TUE JULY 28 2026-theGBJournal| Nigeria’s equities market began the week on a subdued note, with investors locking in profits after the market’s recent rally, dragging the NGX benchmark index marginally lower despite renewed buying interest in select banking and consumer stocks.
A surge in transaction value, driven largely by a sizeable trade in Aradel Holdings, underscored continued institutional participation even as overall market sentiment softened.
The Nigerian Exchange (NGX) All-Share Index slipped 0.05% to close at 247,238.74 points, trimming the market capitalisation by the same margin to ₦159.51 trillion.
The decline narrowed the market’s year-to-date return to 58.88%, from 58.96% at the previous close.
The day’s losses were led by sharp declines in Transpower (-10.00%), International Breweries (-9.85%) and Neimeth International Pharmaceuticals (-9.78%), reflecting sustained profit-taking in selected industrial and consumer names.
Their declines outweighed gains in financial stocks, where First HoldCo rose 4.56%, alongside advances in Dangote Sugar Refinery (+3.14%) and Fidelity Bank (+2.14%).
Trading activity remained robust, signalling that investor participation has yet to wane despite the slight market pullback.
Total traded volume climbed 12.82% to 637.96 million shares, while the value of transactions surged 91.47% to ₦57.20 billion.
Access Holdings emerged as the most actively traded stock by volume, accounting for 47.57 million shares, while Aradel Holdings dominated the value chart with ₦27.57 billion worth of trades, indicating the execution of a significant institutional transaction.
Market breadth weakened, highlighting the cautious tone across the bourse. Thirty-two stocks declined against twenty-seven gainers, producing a negative breadth ratio of 0.84x.
SUNU Assurances posted the steepest decline, shedding 10.00%, while Lasaco Assurance led the gainers with a 9.89% advance.
In the over-the-counter market, sentiment was more constructive.
The NASD Securities Index advanced 1.11% to 4,342.60 points, lifting market capitalisation to ₦2.61 trillion and improving the market’s year-to-date return to 22.54%, from 21.19%.
The gains were driven primarily by SD FCMB WAMCO, which appreciated 9.09%, while SD Nitrox Gas declined 1.50% to top the losers’ list.
Trading activity on the NASD, however, slowed markedly.
Volume traded fell 79.84% to 604,565 units, while transaction value dropped 71.74% to ₦19.61 million, with only 33 deals executed during the session.
Meanwhile, the naira weakened slightly in the official foreign exchange market, with the exchange rate depreciating 0.1% to close at ₦1,363.92 per US dollar, extending the currency’s recent period of relative stability despite modest day-to-day fluctuations.
The mixed performance across asset classes suggests investors remain selective, balancing profit-taking in high-flying equities with continued interest in fundamentally strong banking stocks, while sizeable institutional trades indicate liquidity remains supportive of the broader market.
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