The Nigerian equities market opened December on a cautious but active note, slipping marginally as investors recalibrated their books ahead of the final stretch of the trading year.

The All-Share Index retreated by 0.22 percent to close at 143,210.33 basis points, even as overall turnover stayed robust with 1.47 billion shares traded in 28,956 deals, valued at N18.67 billion.

Despite the soft start, the market remains firmly in positive territory year-to-date, posting an impressive 39.14 percent gain and signalling that investor appetite for equities is still far from exhausted.

At the Nigerian Exchange (NGX) on Monday, the stock ended the day lower, reflecting a wave of profit-taking after strong prior sessions. Wema Bank, Access Holdings, Fidelity Bank, and Zenith Bank also featured prominently on the volume log, underscoring continued institutional activity in the financial sector.

In contrast, heavyweight tickers such as Airtel Africa, Geregu Power, and MTN Nigeria saw muted interest, with investors holding positions steady.

The day’s bright spot came once again from NCR Nigeria Plc, which extended its momentum rally to close at N60.10, up 9.97 percent, topping the gainers’ chart. The surge in NCR was followed by strong advances in SUNU Assurances, Champion Breweries, Mecure Industries, and Guinea Insurance, all of which posted notable price appreciation.

In total, 19 stocks recorded gains, reflecting pockets of bullish sentiment, particularly among mid-tier counters.

However, the broader market was weighed down by declines in 26 stocks, led by International Breweries, which hit the maximum allowable drop of 10 percent to close at N10.35. RT Briscoe, Cornerstone Insurance, DAAR Communications, and Regency Alliance Insurance also closed weaker as profit-taking and cautious positioning filtered through the market.

Monday’s session saw insurance and banking counters dominate the tape, led by Cornerstone Insurance, which alone accounted for a staggering 908.8 million units valued at N4.59 billion.

Analysts note that as the market enters the dividend-signalling phase of the year, trading activity is expected to tighten, with portfolio adjustments gaining pace in the weeks ahead. Despite Monday’s dip, sentiment remains broadly constructive, and the market appears poised for a lively run as December unfolds.

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