The domestic equities market kicked off the week on a bearish note, driven by investor anxiety over the U.S. government’s recent 14.0% tariff imposition.
This led to a decline in market sentiment, particularly impacting stocks like GTCO (-5.6%) and TRANSCORP (-5.8%), which dragged the All-Share Index down by 1.2%, closing at 104,216.87 points.
As a result, the market’s month-to-date and year-to-date returns fell to -1.4% and +1.3%, respectively.
In terms of trading activity, the total volume increased by 27.5%, reaching 444.11 million units, valued at NGN11.15 billion, and transacted across 15,690 deals. FCMB emerged as the most traded stock by volume, with 65.50 million units, while GTCO was the most traded stock by value, amounting to NGN2.33 billion.
Sectoral performance was predominantly negative, with the Banking (-7.6%), Insurance (-7.6%), Consumer Goods (-0.8%), and Oil & Gas (-0.7%) indices all declining. On the other hand, the Industrial Goods index remained unchanged.
Market sentiment also reflected a negative outlook, with 49 decliners versus just 9 gainers, resulting in a market breadth of 0.2x. OANDO (-10.0%) and NSLTECH (-10.0%) recorded the largest losses of the day, while VFDGROUP (+10.0%) and TOTAL (+9.6%) were the top gainers.
