GTCO, Access Corp Rally as NGX Slips Lower

The Nigerian equities market began the week on a bearish note as widespread losses across sectors outweighed gains in select stocks. Despite positive moves by Guaranty Trust Holding Company (GTCO) and Access Holdings Plc, the benchmark All-Share Index fell slightly by 0.08 percent, closing at 143,614.61 points compared to 143,722.62 points recorded previously. Market capitalization dropped by ₦68.69 billion to end at ₦91.35 trillion.

The downturn extended the market’s recent weak performance, pulling the year-to-date return down to 39.53 percent from 39.64 percent. Trading activity improved, with 694.78 million units exchanged at a value of ₦28.67 billion across more than 24,000 deals. GTCO led both the volume and value charts, trading 203.85 million shares worth ₦17.24 billion and closing slightly higher at ₦84.80 per share. Access Holdings also advanced by 1.46 percent to ₦20.80, with nearly 22 million shares exchanged.

Losses in UBA, Sterling Financial Holdings, and Fidelity Bank weighed heavily on the banking sector, which declined by 2.3 percent. Fidelity Bank saw profit-taking after recent gains, while NPF Microfinance Bank topped the losers’ chart with a 7.85 percent fall. Outside the financial sector, gains in eTranzact, Unilever Nigeria, and other growth-focused firms provided some support, with the NGX Growth Index rising modestly. Overall, declining stocks outnumbered gainers, signaling weak investor sentiment.