Stock Market Declines N3.6 Trillion as Investors Take Profits in BUA Cement

Kayode Tokede The Nigerian stock market fell by N3.6 trillion, ending two consecutive days of gains, largely due to widespread profit‑taking, including a 10 % decline in BUA Cement and 37 other stocks.

The Nigerian Exchange Limited All‑Share Index (NGX ASI) dropped 5,668.65 basis points, a 2.35 % fall, ending the day at 235,074.54 basis points. Month‑to‑Date and Year‑to‑Date returns were -6.1 % and +51.1 %, respectively.

Sector indices were all negative, with Industrial Goods down 8.3 %, Insurance 1.0 %, Banking 0.7 %, Consumer Goods 0.3 % and Oil & Gas 0.1 %.

Market breadth was negative, with 38 stocks falling and 17 rising. Skyway Aviation Handling Company led the gains, up 9.92 % to N171.20 a share. International Energy Insurance and Tantalizers followed, rising 9.66 % to N6.70 and 6.98 % to N4.60 respectively.

Omatek Ventures climbed 5.70 % to N2.04, and AIICO Insurance rose 5.19 % to N4.26 a share.

Conversely, Dangote Cement, BUA Cement and Geregu Power each fell 10 %, closing at N963.00, N340.20 and N917.40 a share. Custodian Investment dropped 9.97 % to N73.15, and Academy Press