December 01, (THEWILL) — The Nigerian equities market extended its bearish performance as broad sell pressure pushed major indices lower. Market Capitalisation declined from N91.286, at the opening to N91.089 at the close. Likewise, the All-Share Index fell from 143,520.53 to 143,210.33, reflecting weak investor appetite and cautious positioning.
The market breadth was negative, recording 20 gainers against 26 losers, signalling a downbeat trading session.
Top Gainers
- NCR Nigeria Plc
Gained 9.97 percent (from N54.65 to N60.10). - SUNU Assurances
Rose 9.18 percent (from N3.92 to N4.28). - Champion Breweries
Advanced 8.11 percent (from N12.95 to N14.00). - Mecure Industries
Appreciated 7.58 percent (from N27.70 to N29.80). - Guinea Insurance
Increased by 7.27 percent (from N1.10 to N1.18).
Top Losers
- International Breweries (INTBREW)
Declined 10.00 percent (from N11.50 to N10.35). - RT Briscoe
Dropped 9.88 percent (from N3.44 to N3.10). - Cornerstone Insurance
Lost 7.83percent (from N6.00 to N5.53). - DAAR Communications
Shed 6.52 percent (from N0.92 to N0.86). - Regency Alliance Insurance
Fell 4.81percent (from N1.04 to N0.99).
Unchanged Stocks
Key counters that remained unchanged during the session include:
- Dangote Cement
- Custodian Investment
- Julius Berger
- Seplat Energy
- MTN Nigeria Communications
Investor Sentiment
Investor sentiment remained largely bearish as selloffs dominated across major sectors. Despite isolated gains from select mid-caps such as NCR and SUNU, overall risk appetite was weak. The negative market breadth (20 gainers vs. 26 losers) further reflected cautious investor behaviour, likely driven by profit-taking, macroeconomic concerns, and the absence of strong market catalysts.
Market Impact / Drivers
- Broad-based sell pressure: Declines in heavyweights such as INTBREW and Cornerstone Insurance contributed significantly to the day’s negative close.
- Sector rotation: Some investors shifted interest towards insurance and consumer-focused stocks, reflected in gains from SUNU Assurances, Champion Breweries, and Guinea Insurance.
- Cautious trading mood: The dip in both the ASI and Market Capitalisation suggests investors are adopting a wait-and-see approach amid ongoing economic uncertainties.
Given the persistent cautious sentiment and the negative close, the market may continue to trade mixed in the next session.
Investors are expected to trade cautiously while watching for clearer signals from upcoming corporate announcements and broader economic developments.
Ogochukwu Onwaeze
