From Allafrica · · 1m 30s
Nigerian Stocks Drop 0.52% After Profit-Taking
Nigerian stocks fell 0.52% as investors took profits after three weeks of gains.
In brief
Nigerian stocks fell 0.52% as investors took profits after three weeks of gains. Nigerian equities dropped 0.52% weekly despite a 61.17% year-to-date rise as profit-taking occurred after a central bank rate cut. Originally reported by Allafrica.
Nigerian Stocks End Week Lower
Nigerian stocks ended the week lower as investors reduced positions after recent gains.
NGX All-Share Index Falls 0.52%
The NGX All-Share Index fell 0.52% to 250,808.27 points, while equity market capitalization declined 0.50% to ₦162.843 trillion.
Market Activity Declined
Investors exchanged 3.166 billion shares worth ₦155.023 billion in 206,662 deals, down from 4.689 billion shares worth ₦240.824 billion a week earlier.
Financial Services Dominated Trading
Financial services accounted for 61.41% of total volume and 50.14% of total value, with Fidelity Bank, VFD Group and Access Holdings contributing 42.42% of market volume.
Sector Indices Declined
The NGX 30 fell 0.52%, the Banking Index dropped 1.33%, and the Premium Index lost 1.38% during the week.
Key Gainers and Losers
ABC Transport rose 45.10% to ₦7.40, while Sovereign Trust Insurance fell 12.50% to ₦2.10.
Central Bank Rate Cut Impact
The central bank cut its benchmark interest rate by 350 basis points to 23% in September, affecting stock returns and market activity.
Market Context for 2026
The NGX All-Share Index remains up 61.17% in 2026, with oil and gas leading sector gains at 133.94% year to date.
What to remember
Nigerian equities dropped 0.52% weekly despite a 61.17% year-to-date rise as profit-taking occurred after a central bank rate cut.
