Prime Business Africa
Monday hurt. The Nigerian Exchange lost N1.41 trillion in a single session as heavy selling in bank stocks pulled the market down. Market cap closed at N143.91 trillion, from N145.33 trillion on Friday.
The All-Share Index bled 2,201.2 points to end at 223,521.29. Friday’s close: 225,722.49.
Traders pulled back. Volume slipped to 605.23 million shares worth N35.88 billion in 77,290 deals. That’s down from 627.61 million shares worth N44.51 billion on Friday.
Join our WhatsApp ChannelBanks Led the Sell-Off
The damage came from the top. Financials bled across the board.
Biggest Losers
First HoldCo: Down N7.50 to N67.50
UBA: Down N5.50 to N49.50
Access Holdings: Down N3.10 to N28.20
Fidelity Bank: Down N2.20 to N20.10
TransExpress: Down N0.79 kobo to N7.11
Access and Fidelity’s slide came with volume. Access saw 38.14 million shares trade for N1.07 billion. It was the third most traded stock.
Where the Money Still Moved
Despite the rout, a few names stayed green.
Top Gainers
FGSUK2032S7: Up N13.46 to N123.95
Zichis Agro: Up N1.39 to N16.99
Abbey Mortgage Bank: Up N0.50 kobo to N5.90
NPF Microfinance Bank: Up N0.43 kobo to N5.68
Wapic: Up N0.18 kobo to N2.66
Most Traded
Zenith Bank: 63.31 million shares, N8.02 billion
Wema Bank: 44.12 million shares, N1.48 billion
Access Holdings: 38.14 million shares, N1.07 billion
Tantalizer: 29.94 million shares, N113.61 million
VFD Group: 26.73 million shares, N277.89 million
The Takeaway
One day erased N1.41 trillion. Banks took the hit. Access, Fidelity, First HoldCo and UBA all closed deep red.
Liquidity thinned. Value traded dropped nearly N9 billion from Friday.
When the bell rang Monday, the NGX had slipped back below N144 trillion. The sell-off wasn’t broad. It was targeted. And it was bank-led.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
