The Nigerian Exchange Limited (NGX) closed lower on Tuesday as investors engaged in profit-taking activities following the market’s recent rally.
The NGX All-Share Index (ASI) declined by 0.35 percent to close at 246,686.66 points, down from the previous session, while equity market capitalisation settled at ₦158.22 trillion.
Despite the decline, market participation remained robust as investors traded 718.77 million shares valued at ₦29.31 billion in 71,683 deals, indicating sustained interest in the equities market.
Trading activity was largely concentrated in banking stocks with Access Holdings Plc and Zenith Bank Plc emerging as the most actively traded counters by volume and value.
Access Holdings led the volume chart with 113.10 million shares exchanged, while Zenith Bank recorded the highest value of transactions at ₦4.81 billion.
Together, both stocks accounted for a significant portion of the day’s turnover, highlighting continued institutional participation in the banking sector.
Market sentiment was mixed as gains recorded in selected stocks were offset by declines in others.
Among the top gainers, FGSUK2027S3 appreciated by 15.38 percent from ₦91.00 to ₦105.00. International Energy Insurance Plc gained 9.86 percent to close at ₦5.46, while Transcorp Express Plc advanced 7.14 percent to ₦5.10.
Neimeth International Pharmaceuticals Plc rose 6.80 percent to ₦11.00, while LivingTrust Mortgage Bank Plc gained 5.00 percent to settle at ₦4.20.
On the losers’ chart, PZ Cussons Nigeria Plc and Computer Warehouse Group Plc both declined by the maximum daily limit of 10.00 percent to close at ₦88.20 and ₦21.60, respectively.
Associated Bus Company Plc shed 9.95 percent to ₦6.88, while Wema Bank Plc fell 9.09 percent to ₦30.00. Sovereign Trust Insurance Plc lost 8.16 percent to close at ₦2.70.
In terms of volume traded, Conhall Plc, Neimeth International Pharmaceuticals Plc and Sterling Financial Holdings Company Plc also featured prominently among the most active stocks of the session.
Exchange-traded funds posted positive performances despite the broader market decline. SIAMLETF40 gained ₦249.99 to close at ₦6,800.00, while VSPBONDETF rose by ₦10.00 to ₦310.00. MERGROWTH, VETGOODS and VETGRIF30 also recorded gains.
Analysts noted that the market’s decline reflected profit-taking rather than a significant shift in investor sentiment. The strong turnover recorded during the session suggests that investors continue to actively position in selected counters, particularly within the banking sector.
The combination of substantial trading volume, healthy transaction value and continued interest in large-cap banking stocks indicates that liquidity remains strong even as investors lock in gains from recent market advances.
Market participants are expected to continue monitoring corporate developments, earnings outlooks and macroeconomic indicators for further direction in the coming sessions.
