Lagos: The Nigerian stock market stumbled at the week’s open, shedding ₦1.375 trillion in value as investors cashed in gains.
Market capitalisation fell 1.07 per cent to ₦127.75 trillion, while the All-Share Index dropped 2,142 points to 199,014.02. Heavy losses in GTCO, Nigerian Breweries, and Consolidated Hallmark Holdings drove the downturn, underscoring the pressure of post-holiday profit‑taking.
The All-Share Index fell by 2,142.84 points, or 1.07 per cent, closing at 199,014.02, down from 201,156.86 on March 18, the previous trading day.
As a result, the Year-to-Date return fell to 27.89 per cent.
Despite the negative performance, market breadth closed positive, with 43 gainers and 23 losers.
Presco led gainers, rising 10 per cent to N1,871.20. Chis Agro-Allied Industries gained 9.91 per cent to close at N9.43, while John Holt rose 9.70 per cent to N13 per share.
Premier Paints advanced 9.62 per cent to N25.65, and Fortis Global Insurance gained 9.45 per cent to end at N1.39 per share.
On the losers’ chart, Consolidated Hallmark Holdings led the losers, declining 9.64 per cent to N4.50.ment dropped 8.37 per cent to N5.91, and GTCO declined 8.18 per cent to N105 per share.
International Energy Insurance dropped 7.67 per cent to N2.77. Nigerian Breweries fell 7.28 per cent to close at N70 per share.
Analysis of market activity showed an increase in the number of deals but a decline in both value and volume, with 848.8 million shares worth N53.3 billion traded across 139,458 transactions.
This contrasts with 6.06 billion shares worth N130.1 billion exchanged in 58,562 deals on March 18.
United Bank for Africa topped trading volume with 114.17 million shares, comprising 13.45 per cent of the day’s total.
MTN Nigeria posted the highest value of trades at N17.45 billion, representing 32.72 per cent of the day’s total value.
