Stock Market Down N351bn on Profit-taking in MTN, 37 Others Down 

Kayode Tokede

The stock market section on the Nigerian Exchange Limited (NGX) was yestrday subdued, dropping by N351 billion on profit-taking in MTN Nigeria Communications (MTNN) Plc and 37 others.

As  the telecommunication stock price depreciated by 1.4 per cent, the NGX All Share Index ASI lost by 549.44 basis points or 0.33 per cent to close at 165,164.38 basis  points with the Month-to-Date and Year-to-Date returns settled at +6.1 per cent.

On sectors, performance was broadly negative as the NGXX Insurance Index dropped by 1.3per cent, NGX  Consumer Goods Index dropped by 0.5per cent, and NGX  Banking slumped by 0.4 per cent. The NGX Industrial Goods and Oil & Gas indices closed flat.

Reflecting the profit taking impact, market sentiment was negative, with 38 declining counters outweighing 32 advancing stocks. DEAP Capital Management & Trust recorded the highest price gain of 9.97 per cent to close at N9.49, per share.

Tantalizer followed with a gain of 9.92 per cent to close at N3.88, while Skyway Aviation Handling Company rose by 9.91 per cent to close at N128.60, per share.

Morison Industries appreciated by 9.90 per cent to close at N9.99, while Zichis Agro-Allied Industries up by 9.81 per cent to close at N3.47, per share.

On the other hand, R.T. Briscoe (Nigeria) led the losers’ chart by 9.97 per cent to close at N6.50, per share. May & Baker Nigeria followed with a decline of 9.96 per cent to close at N35.25, while Ikeja Hotel declined by 9.92 per cent to close at N32.25, per share.

LivingTrust Mortgage Bank depreciated by 9.90 per cent to close at N4.64, while eTranzact International declined by 9.16 per cent to close at N17.35, per share.

Meanwhile, the total volume traded rose by 29.00 per cent to 623.177 million units, valued at N16.540 billion, and exchanged in 42,172 deals. Transactions in the shares of Neimeth International Pharmaceuticals topped the activity chart with 58.126 million shares valued at N590.603 million. Chams Holding Company followed with 39.505 million shares worth N190.587 million, while Access Holdings traded 33.357 million shares valued at N757.455 million.

Zenith Bank traded 32.423 million shares valued at N2.304 billion, while Tantalizer sold 29.244 million shares worth N109.839 million.

On market performance, Imperial Asset Managers Limited said, “overall, today’s session highlights a market seeking for major trigger, as mixed full year 2025 earnings released so far failed to resonate major buying interest amid lingering