The Nigerian stock market began the week on a negative note, with performance indices showing a mixed bag of results.
The Nigerian Exchange Ltd. (NGX) market capitalization fell by N659 billion or 1.01%, dropping from N66.147 trillion on Friday to N65.488 trillion.
In tandem with the decline in market capitalization, the All-Share Index also recorded a sharp drop of 1.23%, losing 1,295.02 points to close at 104,216.87, down from 105,511.89.
This mixed performance was largely attributed to the listing of First Holdco Plc’s Rights Issue of 5,982,548,799 ordinary shares at 50 kobo each, priced at N25 per share on a one-for-six basis, which became effective on April 7, 2025.
Market breadth ended in the red, with 51 losers and only nine gainers.
Among the top losers, Cornerstone Insurance saw a significant drop of 10%, closing at N2.97 per share.
Oando Plc also experienced a 10% fall, closing at N37.80 per share.
Other notable losers included Secured Electronic Technology, which fell 10% to 45 kobo, and RT Briscoe, which also dropped 10% to N2.16.
Honeywell Flour Mills saw a decrease of 9.98%, closing at N10.19 per share.
On the flip side, VFD Group topped the gainers’ chart, rising by 10% to close at N62.70.
TotalEnergies Marketing Nigeria followed closely with a 9.61% increase, closing at N745.00 per share.
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Guinea Insurance and International Energy Insurance also saw gains, rising by 9.52% and 9.33%, respectively.
Abbey Mortgage Bank gained 8.88%, closing at N5.15 per share.
In terms of trading volume, First City Monument Bank led the activity chart with 65.5 million shares valued at N588.99 million.
Fidelity Bank followed with 42.53 million shares worth N818.38 million.
Guaranty Trust Holding Company sold 34.49 million shares worth N2.33 billion, while Access Corporation recorded 31.83 million shares valued at N687 million.
Zenith Bank also saw significant activity, moving 31.68 million shares worth N1.47 billion.
The market’s mixed performance underscores the volatility and shifting investor sentiment as trading continues in the face of new listings and market developments.
