Trading on the Nigerian Exchange (NGX) showed significant movement across individual equities, with some stocks posting gains of nearly 10% while several others declined by similar margins. Market activity amounted to N20.94 billion across 39,085 deals, with 1.46 billion shares changing hands.
Nigerian stocks declined sharply as renewed selling pressure and profit taking weighed on blue-chip companies. The All-Share Index fell 2,756.48 points, or 1.12%, to 243,967.09 points, while equity market capitalisation dropped by about N1.8 trillion.
BUA Foods and Unilever were among the major stocks hit by the sell-off. Despite the decline, total equity market capitalisation remained at approximately N157.49 trillion.
Investors traded 1.46 billion shares in 39,085 deals, generating a total transaction value of N20.94 billion. Based on the reported trading figures, the average transaction was worth approximately N535,641, while the average value of shares traded was about N14.39 per share.
The strongest price gains were concentrated among a group of equities that recorded increases of between 6.80% and 10%. International Energy Insurance (Inteligens) led the advancers, rising 10% from N4.00 to N4.40.
Ecobank Transnational Incorporated (ETI) followed closely, gaining 9.93% from N64.95 to N71.40, representing a N6.45 increase. Trans-Nationwide Express (Transexpr) advanced 9.77%, moving from N2.15 to N2.36, while CWG climbed 9.74% from N19.50 to N21.40.
Cornerstone Insurance (Cornerst) completed the top five gainers with a 6.80% increase, rising from N5.15 to N5.50.
The five leading advancers recorded a combined percentage increase of 46.24%, averaging about 9.25% each. This indicates particularly strong upward movements among the individual stocks featured in the market snapshot.
The decliners, however, showed an equally pronounced reversal in several equities. BUAFoods recorded the largest decline, falling 10% from N845.10 to N760.60, a drop of N84.50 per share.
Unilever declined 9.97%, moving from N145.95 to N131.40, while Johnholt dropped 9.90% from N10.10 to N9.10.
Avacap fell 9.50%, from N8.95 to N8.10, and Austinlaz declined 8.81%, moving from N3.18 to N2.90.
The five biggest decliners recorded a combined percentage decline of 48.18%, averaging approximately 9.64%.
The contrasting performance between the strongest gainers and decliners points to considerable stock level volatility during the session. While the headline market capitalisation stood at N157.49 trillion, the individual equity movements show that investor activity was concentrated in specific counters rather than being uniform across the market.
Overall, the trading data indicates an active session, with more than 1.45 billion shares changing hands and transaction value exceeding N20 billion. Investors will continue to monitor whether the strength in leading advancers broadens across other equities or remains concentrated in a relatively small number of stocks.
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