The Nigerian Exchange (NGX) Limited ended its first trading session of March 2025 on a negative note with a 0.34 per cent loss on Monday.
Profit-taking by investors contributed to the decline suffered by the domestic stock exchange during the trading day amid weak investor sentiment.
Data showed that the bourse finsihed with 20 price gainers and 33 price losers, implying a negative market breadth index.
Ikeja Hotel shed 9.92 per cent to settle at N10.90, United Capital declined by 9.91 per cent to N20.00, Cutix retreated by 9.84 per cent to N2.29, Multiverse slumped by 9.74 per cent to N8.80, and Africa Prudential moderated by 9.46 per cent to N32.05.
However, the duo of NGX Group and Learn Africa chalked up 10.00 per cent each to sell for N33.00, and N3.63 apiece, Champion Breweries improved by 9.90 per cent to N4.33, ABC Transport gained 9.86 per cent to N1.56, and Tantalizers soared by 9.47 per cent to N2.08.
A total of 308.1 million shares valued at N7.2 billion exchanged hands in 15,474 deals yesterday versus the 458.3 million shares worth N14.1 billion transacted in 12,213 deals last Friday, indicating a 26.70 per cent surge in the number of deals and a tumble in the trading volume and number of deals by 32.77 per cent and 48.94 per cent, respectively.
Zenith Bank topped the activity chart with 32.4 million equities worth N1.6 billion, Fidelity Bank exchanged 19.7 million stocks for N344.1 million, Access Holdings transacted 16.9 million shares valued at N430.9 million, NGX Group sold 15.8 million equities worth N512.2 million, and Ellah Lakes traded 15.0 million shares valued at N46.5 million.
Business Post observed that the crumbling of Customs Street on the first trading session of the week was largely driven by selling pressure on the banking sector, which left its index down by 1.20 per cent at the close of business.
Further, the consumer goods space lost 1.03 per cent, the insurance counter went down by 0.57 per cent, and the industrial goods index shrank by 0.02 per cent, while the energy and commodity indices closed higher by 0.42 per cent and 0.07 per cent, respectively.
When the closing gong of the bourse was struck at 2:30 pm, the All-Share Index (ASI) shattered by 366.26 points to 107,455.13 points from 107,821.39 points and the market capitalisation depleted by N95 billion to N67.288 trillion from N67.193 trillion.