NGX SLIPS AS INSURANCE STOCKS CUSHION MARKET DECLINE

Trading on the Nigerian Exchange closed lower on Monday as investors remained cautious, although gains in insurance, agriculture and technology stocks helped limit the decline.

The NGX All-Share Index fell by 306.76 points, or 0.12 per cent, to close at 250,501.51 points.

A total of 875.26 million shares were traded in 53,797 deals during the session.

Sovereign Trust Insurance led the gainers, rising by 10 per cent to N2.31. FTN Cocoa Processors gained 9.97 per cent to N8.38, while Tripple Gee and Company rose 9.87 per cent to N2.56.

Learn Africa and Livestock Feeds also recorded gains of 9.80 per cent and 9.55 per cent respectively.

Critical Minerals Financing Corporation led the losers after declining by 9.80 per cent to N4.05. ABC Transport fell by 9.46 per cent, while Africa Prudential and Japaul Gold & Ventures also recorded losses.

The financial services sector accounted for more than 517 million units traded, with Access Holdings recording the highest volume in the sector.

MTN Nigeria gained 0.24 per cent to close at N842, while Nestlé Nigeria declined by 5.17 per cent to N2,750.

The session reflected continued selective buying and profit-taking as investors assessed individual stocks and broader market conditions.