The Nigerian Exchange Limited (NGX) kicked off July on a bearish note, with investors losing N150 billion at the close of trading on Tuesday, July 1.

Market capitalisation declined from N75.95 trillion on Monday to N75.8 trillion, as investors engaged in profit-taking after a bullish performance in June.

By the end of the session, the All-Share Index dropped by 237.34 points, or 0.2 per cent, closing at 119,741.23. This brought the week-to-date loss to 0.04 per cent. However, the market still maintained a 7.09 per cent gain over the past four weeks and a 16.34 per cent year-to-date return.

Trading volume saw a sharp downturn, with 527.08 million shares worth N11.28 billion exchanged in 21,546 deals — a decline of 63 per cent in volume, 74 per cent in turnover, and 14 per cent in deal count compared to the previous session.

Out of 129 stocks traded, 47 recorded gains while 23 declined. Honeywell Flour Mill led the gainers with a 10 per cent increase to N23.65. RT Briscoe, McNichols, and Mutual Benefits Assurance also recorded 10 per cent gains each. Other notable performers included LASACO and Meyer.

On the flip side, University Press topped the losers’ chart with a 10 per cent drop to N5.04. SCOA Nigeria fell by 9.83 per cent, Thomas Wyatt Nigeria declined by 9.57 per cent, while PZ Cussons shed 7.89 per cent.

In terms of trade volume, Ellah Lakes led with 46.05 million shares, followed by UPDC with 38.5 million and Universal Insurance with 30.4 million. Nigerian Breweries led in trade value, recording N1.74 billion worth of transactions.

Sectoral performance was mixed. The Consumer Goods Index advanced by 31.6 per cent, and the Banking Index gained 17.99 per cent. However, the Premium Index fell by 0.92 per cent. The Top 30 Index and Pension Index also rose, gaining 6.8 per cent and 9.59 per cent, respectively.

Despite notable gains across some sectors, the market began the second half of the year on a cautious note, reversing the bullish momentum seen in June when the NGX gained N5.32 trillion. Trading sentiment turned wary, leading to a marginal pullback as the new month commenced.