NGX: MEYER, MENICHOLS top list of declining stocks

By Grateful Ogunjebe 

In Monday’s trading session on the Nigerian Exchange (NGX), Meyer Plc led the list of declining equities, dropping 10 per cent to close at ₦18.90 as investors moved to take profits across mid- and small-cap stocks.

The selloff on 21 July 2025 saw Meyer shed ₦2.10 in value, triggering declines in Menichols, Thomaswy, Deapcap and Sovrenins, all of which posted losses exceeding 9 per cent.

According to NGX trading data, Menichols followed with a 9.95 per cent fall to ₦3.44 from its previous close of ₦3.82. Thomaswy slipped 9.84 per cent to ₦3.39, while Deapcap and Sovrenins dropped 9.77 per cent and 9.63 per cent, settling at ₦1.20 and ₦1.22 respectively.

The downward movement was attributed largely to short-term investors locking in recent gains, with no fresh corporate announcements or earnings releases to bolster sentiment.

Market analysts noted that the losses underline continued volatility in equities, leaving the market sensitive to interest rate expectations and liquidity conditions. “We are seeing a pattern of profit-taking ahead of the coming earnings season, especially in low-cap stocks that had rallied sharply,” a Lagos-based trader commented.

Despite the negative performance of the top laggards, the All-Share Index (ASI) still advanced 0.18 per cent, signalling resilience in blue-chip counters and ongoing institutional interest in selected sectors.

As the week progresses, market watchers will be closely observing investor sentiment, sectoral rotation and upcoming corporate disclosures that could steer short-term market direction. Further updates are expected from the NGX official bulletin and earnings reports in the days ahead.