Stock market slides as income-taking hits blue chip corporations 

By Peter Egwuatu

After the sustained rally recorded in the outdated weeks of Can also fair 2026, income-taking by investors final week have taken toll on the Nigerian stock market.

Analysts eminent that the income-taking used to be mostly in predominant blue chip and mid-cap corporations that had paid dividends to their shareholders.

A assessment of articulate on the Nigeria Alternate Puny, NGX, final week, confirmed that sell pressures on BUA Cement resulted in its allotment sign decline by 3.5%. GTCO recorded a 1.2% decline, Dangote Sugar decline 4.4%, NASCON went down 5.4% and UACN down by 5.0% to drag the NGX All Fraction Index, ASI, decrease by 0.24% Week-On-Week, WoW, to 249,540.75 points from 250,339.92 points the outdated week.

Within the same formula, one other predominant market indicator, NGX market capitalisation shed over N366 billion to end at N260.077 trillion from N160.443 trillion in the outdated week.

In consequence, the Month-to-Date, MtD and Year-to-Date, YtD   returns moderated to a pair.0% and 60.4%, respectively.

On purchasing and selling articulate, total quantity and fee traded declined by 50.2% WoW and 56.6% WoW respectively.

Across sectors, the Insurance protection Index declined   by -1.8%,   Industrial Items Index -1.2% and User Items Index -0.8%, while the Banking Index inched up by 1.1% and Oil & Gas Index 0.1%.

Within the international commodities market, coarse oil costs fell sharply after feedback from Donald Trump suggesting that negotiations with Iran had entered the closing section.

Commenting on the long speed outlook, analysts at InvestData Consulting Puny, stated: “The decline in coarse costs eased immediate fears of extended present disruption in the Heart East, though geopolitical tensions in the region continued to sustain investors cautious. Considerations over world oil present and imaginable disruptions around the Strait of Hormuz dwell most well-known factors influencing vitality markets. For Nigeria, movements in coarse oil costs dwell serious due to their impact on international substitute earnings, authorities income and overall macroeconomic stability. In consequence, investors in the home equities market are anticipated to proceed monitoring traits in the world oil market alongside substitute charge traits and monetary policy route.

“Within the reach term, the market would possibly maybe per chance additionally fair proceed to skills blended purchasing and selling lessons as investors react to income-taking opportunities, company disclosures, mounted-earnings market yields and world economic traits.”

For analysts at Cordros Capital, they stated :”Taking a gaze ahead, we count on market articulate to dwell rather subdued in the reach term in the absence of a most well-known optimistic catalyst to power sentiment. Nonetheless, we produce no longer rule out selective good deal attempting across basically sound names following the most fresh moderation in costs.

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