Nigerian Exchange Shrinks to N95trn as Sectoral Indexes Plunge
The Nigerian Exchange (NGX) market capitalisation shrank to N95 trillion on Friday as selling rallies persisted in the local bourse. Price depreciation in key market movers dragged the local bourse southward.
Investors trimmed stockholding across sectoral names as unimpressive banking and oil and gas performance triggered selloffs. Profit-taking activities heated up as the market recorded losses in nine out of the last 10 trading sessions.
The NGX All-Share Index fell 0.33% to 149,524.81 points, trimming year-to-date gains to 45.27%. The Nigerian stock market contracted by ₦318.78 billion to ₦95 trillion. Market sentiment remained decidedly negative, with 40 decliners overwhelming 20 advancers.
The downturn reflected a mix of profit-taking activities, investor caution amid recent Nigeria–US diplomatic strains, and reallocation of capital to the fixed income market.
The market saw notable selloffs in MTNN (-8.3%), BUACEMENT (-8.3%), TRANSCORP, BUAFOODS (-1.8%), NESTLE (-9.7%) and WAPCO (-6.4%).
Sectoral performance was broadly bearish: Insurance led losses at -2.15%, followed by Banking (-0.88%), Consumer Goods (-0.47%), Oil & Gas (-0.25%), and Industrial (-0.11%).
The Commodity sector remained unchanged. Trading activity weakened markedly as volume dropped 14.92% to 527.17 million shares, while transaction values declined 6.79% to ₦15.38 billion.
Deal count fell marginally by 0.92% to 24,637 trades. This deterioration in trading metrics signals reduced institutional participation and muted retail interest, reflecting ongoing risk aversion and portfolio rebalancing amid challenging market conditions. Cadbury Nigeria Shares Hit Oversold, Analysts Now See Upside
