The Nigerian equities market closed in the red on Tuesday, reversing part of its recent gains as profit-taking in key sectors weighed on overall performance.

The benchmark index of the Nigerian Exchange Group, the NGX All-Share Index, declined by 0.58 per cent to close at 241,750.15 points, trimming the year-to-date return to 55.35 per cent.

The downturn translated into a sharp contraction in market value, with investors losing approximately N906 billion as total market capitalisation fell to N155.15 trillion.

Despite the negative close, market sentiment showed underlying resilience, as breadth remained firmly positive at 1.73x. A total of 45 stocks advanced against 26 decliners, signalling selective bargain hunting by investors. Leading the gainers’ chart were RT Briscoe, Vitafoam, McNichols, Zichis, and CAP, while Guinness Breweries, Union Dicon, AIICO Insurance, Wema Bank, and MTN Nigeria recorded the most significant losses.

Sectoral performance presented a mixed picture. Gains in the insurance, consumer goods, and industrial goods sectors provided some support but were outweighed by losses in the banking, oil and gas, and commodities sectors, which ultimately dragged the broader market lower.

Trading activity, however, reflected heightened investor engagement. Total volume traded surged by 31.09 per cent to 1.27 billion shares, while the value of transactions jumped by 71.57 per cent to N75.23 billion. In contrast, the number of deals declined by 15.88 per cent to 102,665 trades, indicating a shift towards larger block transactions.

Market analysts attribute the bearish close to profit-taking in recently rallied stocks, particularly within the banking and oil sectors, even as investors continue to reposition portfolios amid evolving macroeconomic signals.

Looking ahead, market participants are expected to adopt a cautious stance in Wednesday’s session, with trading likely to be driven by selective positioning and bargain hunting in fundamentally strong stocks.

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