NGX Opens Week on Bearish Note as Market Loses N21bn Amid Profit-Taking Pressure
Thank you for reading this post, don't forget to subscribe!Lagos, April 14, 2025 – Naija247news – The Nigerian stock market kicked off the new trading week in the red, shedding N21 billion in market capitalisation due to widespread profit-taking and sell pressure across key sectors.
Data from the Nigerian Exchange Ltd (NGX) on Monday showed that the All-Share Index (ASI) dipped by 33.72 points or 0.03%, closing at 104,529.62, compared to Friday’s close of 104,563.34. Similarly, market capitalisation declined from N65.706 trillion to N65.685 trillion.
Despite the decline, market sentiment remained modestly positive as 28 stocks gained while 24 recorded losses.
Top Gainers:
• ABBEY Mortgage Bank soared 9.95% to close at N6.74 per share.
• UPDC REIT jumped 9.82% to settle at N3.13 per share.
• Guinea Insurance advanced 9.52% to 69k, while VFD Group climbed 9.46% to N96.00.
• Sovereign Trust Insurance rose 9.41% to close at 93k.
Top Losers:
• International Energy Insurance dropped 9.76% to N1.48.
• Consolidated Hallmark Plc shed 8.33%, closing at N2.75.
• Japaul Gold declined 7.46% to N1.86, while Chams Holding dipped 6.98% to N2.00.
• Neimeth Pharmaceuticals lost 6.94%, closing at N2.68.
Trading activity also surged, with investors transacting 428.16 million shares valued at N10.52 billion in 14,583 deals, compared to 379.95 million shares worth N10.10 billion in 10,791 deals on Friday.
Most Active Stocks:
• Access Corporation led with 55.98 million shares worth N1.14 billion.
• Zenith Bank followed with 55.43 million shares valued at N2.76 billion.
• Fidelity Bank traded 39 million shares worth N725 million, while UBA exchanged 33.19 million shares valued at N1.041 billion.
• GTCO moved 31.02 million shares worth N2.12 billion.
Market analysts say the dip is largely temporary as investors lock in profits from previous sessions, with expectations of a rebound in the coming days.
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