Nigerian stocks experienced a significant decline on Monday, with the Nigerian Exchange’s All Share Index (ASI) dropping 1.23%, marking its biggest single-day fall this month. As a result, investors lost approximately N659 billion by the end of trading.
The decline is attributed to the effects of U.S. President Donald Trump’s trade tariffs on global markets. Companies like Oando and Honeywell Flour Mills saw substantial decreases, with Oando’s shares falling from N42 to N37.80—a drop of 10%—and Honeywell losing nearly 10%, decreasing from N11.32 to N10.19.
The ASI closed at 104,216.87 points, down from the previous day’s 105,511.89 points, and the market capitalization fell to N65.488 trillion. The year-to-date return for the Nigerian market now stands at +1.25%.
This downturn coincided with declines in other major stock indexes, including the U.S. markets, which were also affected by Trump’s tariffs. The S&P 500 lost 2.3%, while the Dow Jones Industrial Average dropped 1,015 points, marking significant losses over just a few days.
Globally, stock markets in Europe and Asia joined the sell-off. The FTSE 100 in the UK opened more than 5% lower, while Germany’s DAX fell by 10% shortly after opening, before recovering somewhat.
In Nigeria, trading for the day involved 444.1 million shares, valued at N11.148 billion, across 15,690 deals. This marks the All-Share Index’s most considerable single-day loss in nearly three months, shedding 1,295.02 points and reflecting a broad negative sentiment in the market.
Market Summary:
- Current ASI: 104,216.87
- Previous ASI: 105,511.89
- Day Change: -1.23%
- Year-to-Date Performance: +1.25%
- Volume Traded: 444.1 million shares
- Market Cap: N65.4 trillion
Top 5 Gainers:
- VFDGROUP: +10.00%
- TOTAL: +9.61%
- GUINEAINS: +9.52%
- INTENEGINS: +9.33%
- ABBEYBDS: +8.88%
Top 5 Losers:
- CORNEST: -10.00%
- OANDO: -10.00%
- NSLTECH: -10.00%
- RTBRISCOE: -10.00%
- HONYFLOUR: -9.98%
Trading Volume Leaders:
- FCMB: 65.4 million shares
- FIDELITYBK: 42.5 million shares
- GTCO: 34.4 million shares
- ACCESSCORP: 31.8 million shares
- ZENITHBANK: 31.6 million shares
The banking sector was hit particularly hard, with shares of major banks like ACCESSCORP, UBA, and GTCO recording significant losses. Overall, Monday was a tough day for Nigerian investors as global trade tensions continued to impact the market.
