{"id":9195,"date":"2026-07-23T13:48:48","date_gmt":"2026-07-23T13:48:48","guid":{"rendered":"https:\/\/ograsset.com\/?p=9195"},"modified":"2026-07-23T13:48:49","modified_gmt":"2026-07-23T13:48:49","slug":"equities-shed-n800bn-as-profit-taking-halts-market-rally","status":"publish","type":"post","link":"https:\/\/ograsset.com\/index.php\/2026\/07\/23\/equities-shed-n800bn-as-profit-taking-halts-market-rally\/","title":{"rendered":"Equities shed N800bn as profit-taking halts market rally"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Equities shed N800bn as profit-taking halts market rally<\/strong><\/p>\n\n\n\n

The recent bullish momentum on the Nigerian Exchange Limited came to a sudden halt on Wednesday as aggressive profit-taking in high-capitalisation stocks wiped N800bn off the total market valuation.<\/p>\n\n\n\n

The All-Share Index fell by 1,241.19 points, representing a 0.50 per cent decline, to close at<\/p>\n\n\n\n

245,418.37 basis points. Consequently, market capitalisation dropped to N158.319tn.<\/p>\n\n\n\n

The market\u2019s downturn was primarily triggered by price depreciation in key consumer goods and industrial heavyweights, notably Nestle Nigeria, BUA Foods, UACN, Guinness Nigeria, and MeCure Industries.<\/p>\n\n\n\n

Despite the broader market contraction, investor sentiment remained resilient, reflected in a positive market breadth as 37 gainers outpaced 27 decliners.<\/p>\n\n\n\n

Commenting on the day\u2019s trend, market analysts noted that the heavy concentration of trading activity, where over two-thirds of total market value was locked in First Holdco, underscored strong institutional participation on the trading floor.<\/p>\n\n\n\n

Furthermore, sustained buying interest in tier-one banking stocks indicated an ongoing appetite for financial sector equities despite general profit-taking across other sectors.<\/p>\n\n\n\n

On the performance chart, Cadbury Nigeria, Trans-Nationwide Express, and Unilever Nigeria led the gainers, each advancing by the maximum daily limit of 10 per cent to close at N62.70, N3.08, and N137.50 per share, respectively.<\/p>\n\n\n\n

They were closely followed by Thomas Wyatt Nigeria, which rose 9.95 per cent to N4.09, and<\/p>\n\n\n\n

NASCON Allied Industries, which climbed  8.89 per cent to close at N196 per share.<\/p>\n\n\n\n

Conversely, Nestle Nigeria and BUA Foods topped the decliners\u2019 table, shedding 10 per cent<\/p>\n\n\n\n

each to settle at N2,812.50 and N845.10 per share.<\/p>\n\n\n\n

MeCure Industries dropped 9.94 per cent to N69.30, International Energy Insurance dipped 9.84 per cent to N4.40, while UACN slipped 7.75 per cent to N184.45 per share.<\/p>\n\n\n\n

Activity levels spiked significantly as total volume traded jumped 34.34 per cent to 1.253 billion units, valued at N118.179bn, executed in 47,458 deals.<\/p>\n\n\n\n

First Holdco dominated the activity chart by a massive margin, recording 736.038 million shares exchanged for N80.812bn. Access Holdings followed with 79.580 million shares worth N2.094bn, while Guaranty Trust Holding Company traded 34.044 million shares valued at N4.419bn.<\/p>\n\n\n\n

M<\/em>utual Benefits Assurance and Zenith Bank rounded off the top five most active counters, trading 24.361 million shares (N85.326m) and 21.455 million shares (N2.575bn), respectively.<\/em><\/p>\n\n\n\n

Source: https:\/\/punchng.com\/equities-shed-n800bn-as-profit-taking-halts-market-rally\/<\/em><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Equities shed N800bn as profit-taking halts market rally The recent bullish momentum on the Nigerian Exchange Limited came to a sudden halt on Wednesday as aggressive profit-taking in high-capitalisation stocks wiped N800bn off the total market valuation. The All-Share Index fell by 1,241.19 points, representing a 0.50 per cent decline, to close at 245,418.37 basis… <\/p>\n

<\/div>\n

Read More \u2192<\/a><\/p>\n","protected":false},"author":2,"featured_media":9196,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-9195","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fit-row"],"jetpack_featured_media_url":"https:\/\/ograsset.com\/wp-content\/uploads\/2026\/07\/July-23333.png","_links":{"self":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/9195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/comments?post=9195"}],"version-history":[{"count":2,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/9195\/revisions"}],"predecessor-version":[{"id":9198,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/posts\/9195\/revisions\/9198"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/media\/9196"}],"wp:attachment":[{"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/media?parent=9195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/categories?post=9195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ograsset.com\/index.php\/wp-json\/wp\/v2\/tags?post=9195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}