The Nigerian Exchange (NGX) opened the week with robust trading activity as investors transacted 388.2 million shares valued at ₦31.1 billion across 28,492 deals.

Despite the impressive turnover, the market closed lower. The NGX All-Share Index (ASI) declined by 1.28%, dropping by 1,853.82 points to 145,159.77, while market capitalisation fell by ₦1.17 trillion to ₦92.329 trillion.

Market analysts attribute the downturn to heightened profit-taking, particularly among major industrial stocks. The industrial goods sector led the decline, alongside weaknesses in banking, energy, and consumer goods counters.

Market breadth, however, remained positive with 28 gainers outweighing 24 losers, signalling underlying investor interest despite the bearish close.

Top gainers included Sovereign Trust Insurance, which appreciated by 9.97% to ₦3.20, and NCR Nigeria, up 9.96% to ₦28.15. Other notable advancers were Tantalizer, Prestige Assurance, and Eunisell.

On the flip side, heavyweights such as Dangote Cement and Nigerian Enamelware shed 10% each, dragging down the broader market. Transcorp Power, AIICO Insurance, and Guinea Insurance also posted significant losses. Visit www.jocomms.com for more news.