Nigeria’s equities market opened the second half of 2025 in negative territory as profit-taking in key consumer and industrial stocks dragged the Nigerian Exchange Limited (NGX) lower on Tuesday.
The market capitalisation of listed equities decreased by about ₦150 billion after closing at ₦75.801 trillion, down from ₦75.951 trillion recorded at the previous session.
The NGX All-Share Index (ASI) declined by 0.20 percent to settle at 119,741.23 points compared to Monday’s 119,978.57 points.
PZ Cussons Nigeria Plc led the list of major laggards, dropping from ₦38 per share to ₦35, a decline of ₦3 or 7.89 percent. University Press Plc also recorded a significant loss, falling by 10 percent from ₦5.60 to ₦5.04 per share.
SCOA Nigeria Plc followed closely, declining by 9.83 percent as its share price dipped from ₦5.39 to ₦4.86.
The negative start to the second half came despite the market’s robust performance in June when investors gained approximately ₦5.49 trillion, driven by strong rallies in banking, consumer goods, and insurance stocks.
Analysts at Vetiva Research had projected a cautious market mood, noting ahead of Tuesday’s session that the bourse would likely remain in a “wait-and-see mode” due to the risk of further profit-taking in high-performing counters.
“While there is cautious optimism around a potential rebound in the banking sector, the risk of continued profit-taking in these names persists and could dampen overall market sentiment,” Vetiva stated in a note.
Market turnover remained healthy with 21,546 transactions recorded for the day. A total of 527.07 million shares valued at ₦11.28 billion exchanged hands as investors continued to adjust their portfolios in response to recent gains and macroeconomic signals.
With the second half of the year now underway, market watchers say the focus will remain on key corporate earnings releases, economic policy signals and the evolving interest rate environment as factors that could influence investor sentiment in the weeks ahead.
The NGX’s performance in the coming sessions will be watched closely to determine whether Tuesday’s decline marks the start of a broader pullback or a brief correction following the market’s strong rally in the first half of the year.
