Economy
Nigerian Stocks Post Third Straight Loss as Mood Dampens
By Dipo Olowookere
For the third straight session, transactions on the floor of the local bourse closed bearish and on Wednesday, the market was down by 0.09 per cent.
Sustained profit-taking by investors further weakened the Nigerian Exchange (NGX) Limited as the absence of a positive trigger is beginning to weigh on the market.
Trades were low at the midweek session as just 169.3 million stocks worth N1.4 billion were transacted in 3,449 deals compared with the 425.7 million stocks worth N2.0 billion traded in 4,553 deals a day earlier, signifying a decline in the trading volume, value and number of deals by 60.23 per cent, 27.60 per cent and 24.25 per cent respectively.
At the close of transactions, Transcorp traded 28.5 million shares valued at N25.8 million, Zenith Bank traded 16.6 million stocks worth N398.2 million, Honeywell Flour traded 13.2 million shares worth N55.0 million, United Capital exchanged 12.8 million equities valued at N91.4 million, while Mutual Benefits Assurance transacted 8.3 million equities worth N2.5 million.
Business Post reports that investor sentiment was weak yesterday as the market breadth closed negative with nine price gainers and 17 price losers led by FTN Cocoa, which lost 8.77 per cent to trade at 52 kobo.
Morison Industries went down by 5.42 per cent to N1.92, UPDC depreciated by 4.84 per cent to N1.77, Jaiz Bank fell by 4.76 per cent to 60 kobo, while Wema Bank lost 4.65 per cent to settle at 82 kobo.
On the flip side, AIICO Insurance topped the gainers’ chart after its value rose by 4.04 per cent to sell for N1.03 and was trailed by Custodian Investment, which gained 3.15 per cent to quote at N6.55.
Fidson appreciated by 2.80 per cent to N6.25, Fidelity Bank improved by 2.55 per cent to N2.41, while Livestock Feeds appreciated by 0.95 per cent to trade at N2.13.
A look at the sectoral performance showed that apart from the industrial goods sector, which closed flat, every other counter finished bearish.
The consumer goods space lost 0.62 per cent, the banking sector depreciated by 0.23 per cent, the insurance counter declined by 0.20 per cent, while the energy counter deflated by 0.08 per cent.
When the market was closed for the session, the All-Share Index (ASI) was down by 35.43 points to 39,184.18 points from 39,219.61 points, while the market capitalisation moderated by N18 billion to N20.416 trillion from N20.434 trillion.
By Adedapo Adesanya
Five securities caused the NASD Over-the-Counter (OTC) Securities Exchange to experience a setback of 0.64 per cent on Monday, February 2.
During the first trading session of February 2026, FrieslandCampinaWamco Nigeria Plc shrank by N4.46 to end at N63.54 per unit versus the previous session’s N68.00 per unit, as Okitipupa Plc depreciated by N3.83 to close at N230.77 per share versus last Friday’s N234.60 per share.
Further, Central Securities Clearing System (CSCS) dropped 50 Kobo to sell at N40.00 per unit compared with the previous closing price of N40.50 per unit, UBN Property Plc dipped by 21 Kobo to N1.99 per share from N2.20 per share, and Acorn Petroleum Plc lost 3 Kobo to end at N1.35 per unit versus N1.38 per unit.
As a result, the market capitalisation went down by N13.98 billion to settle at N2.158 trillion, in contrast to the previous value of N2.171 trillion, and the NASD Unlisted Security Index (NSI) contracted by 23.35 points to settle at 3,606.76 points compared with last Friday’s closing value of 3,630.11 points.
Amid the loss, Geo-Fluids Plc managed to finish green after it chalked up 9 Kobo to sell at N6.84 per share versus the N5.75 per share it ended in the last trading day.
Yesterday, the volume of securities traded by investors surged by 1,238.5 per cent to 3.9 million units from 287,618 units, the value of securities increased by 1,075.2 per cent to N36.0 million from N3.1 million, and the number of deals soared by 90.5 per cent to 40 deals from 21 deals.
At the close of trades, CSCS Plc remained the most traded stock by value (year-to-date) with 15.4 million units valued at N623.9 million, followed by FrieslandCampina Wamco Nigeria Plc with 1.7 million units worth N110.2 million, and Geo-Fluids Plc with 10.6 million units sold for N69.9 million.
CSCS Plc was also the most active stock by volume (year-to-date) with 15.4 million units traded for N623.9 million, trailed by Geo-Fluids Plc with 10.6 million units worth N69.9 million, and Mass Telecom Innovation Plc with 10.1 million units transacted for N4.1 million.
By Adedapo Adesanya
The value of the Naira dropped against the United States Dollar in the the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Monday, February 2 by N3.81 or 0.27 per cent to N1,390.36/$1 from the N1,386.55/$1 it traded last Friday.
This was driven by stronger demand for forex at the official market, which outweighed to what was available to meet customers’ needs. But the local currency remained within the expected trading range.
In the same market window, the domestic currency further appreciated against the Pound Sterling during the session by N6.72 to close at N1,899.51/£1 compared with the preceding session’s rate of N1,906.23/£1 and improved against the Euro by N7.70 to trade at N1,644.52/€1 versus the previous trading day’s value of N1,652.22/€1.
In the parallel market, the exchange rate of the Nigerian Naira to its American counterpart remained unchanged yesterday at N1,465/$1 and at the GTBank FX counter, it also maintained stability at N1,419/$1.
The Naira is expected to remain relatively stable in the coming days, boosted by stronger FX liquidity, enhanced price discovery, and a gradual restoration of offshore investor confidence while Nigeria’s external reserves, which provide the Central Bank of Nigeria (CBN) with the capacity to defend the Naira and stabilise the foreign exchange market, have continued to grow steadily.
Updated data showed that Nigeria’s gross external reserves printed at $46.18 billion as of January 29, 2026, reflecting an addition of $62.40 million.
As for the cryptocurrency market, it was bullish after a sharp weekend sell-off while a resurgent US Dollar index, which has logged its strongest two-day gain in nine months, threatened to keep gains in check.
Expectations that US Federal Reserve chair nominee, Mr Kevin Warsh, will be cautious on interest-rate cuts, along with upcoming US jobs data, are seen as potential drivers of further Dollar strength.
The biggest gainer for the session was Cardano (ADA), which rose by 6.2 per cent to trade at $0.2976, Ethereum (ETH) appreciated by 5.5 per cent to $2,319.80, Dogecoin (DOGE) grew by 5.3 per cent to $0.1066, Binance Coin (BNB) gained 4.8 per cent to sell for $776.00, and Solana (SOL) added 4.6 per cent to sell at $103.75.
In addition, Litecoin (LTC) improved by 4.5 per cent to trade at $59.95, Bitcoin (BTC) appreciated by 3.6 per cent to $78,445.62, and Ripple (XRP) expanded by 3.4 per cent to $1.60, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited managed to finish in the green territory on Monday after it marginally closed higher by 0.01 per cent.
The last minute escape from the bears was triggered by the gains posted by large-cap equities like Zenith Bank, Aradel Holdings and others, offsetting the losses recorded by GTCO, Oando, First Holdco and others.
According to data obtained by Business Post, only 29 stocks ended on the gainers’ chart, while 44 equities landed on the losers’ table, indicating a negative market breadth index and weak investor sentiment.
Universal Insurance rose by 10.00 per cent to sell for N1.32, Premier Paints appreciated by 10.00 per cent to N11.00, DAAR Communications improved by 9.93 per cent to N1.55, RT Briscoe increased by 9.92 per cent to N8.64, and Morison Industries advanced by 9.91 per cent to N10.98.
On the flip side, Omatek declined by 10.00 per cent to N2.70, Union Homes REIT declined by 9.96 per cent to N85.40, AXA Mansard shrank by 9.94 per cent to N14.31, Deap Capital decreased by 9.90 per cent to N8.46, and C&I Leasing moderated by 9.80 per cent to N6.90.
On the first trading session of this week, market participants bought and sold 762.8 million shares valued at N18.4 billion in 55,374 deals compared with the 687.4 million shares worth N15.0 billion traded in 41,553 deals last Friday, a spike in the trading volume, value, and number of deals by 10.97 per cent, 22.67 per cent, and 33.26 per cent, respectively.
Tantalizers ended the day as the most active stock with 88.5 million units sold for N329.4 million, Zenith Bank traded 40.2 million units worth N2.9 billion, Veritas Kapital transacted 39.2 million units valued at N92.1 million, Universal Insurance exchanged 29.3 million units for N38.1 million, and First Holdco transacted 27.6 million units worth N1.1 billion.
The sectorial performance yesterday showed that the mood of investors was in the sell region despite the slight growth recorded by Customs Street, as only the energy index closed in green, rising by 2.00 per cent.
The insurance counter was down by 1.99 per cent, the banking industry depleted by 0.64 per cent, the consumer goods shrank by 0.37 per cent, and the industrial goods retreated by 0.08 per cent.
When the first trading day of February 2026 ended on Monday, the All-Share Index (ASI) went up by 14.23 points to 165,384.63 points from 165,370.40 points, while the market capitalization chalked up N9 billion to finish at N106.162 trillion compared with the previous session’s N106.153 trillion.
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