Equities Investors Lose N292bn as Wema Bank, Oando Plunge

Equities Investors Lose N292bn as Wema Bank, Oando Plunge

Equities investors’ portfolio value on the Nigerian Exchange (NGX) declined by about N292 billion as selling pressures hit Wema Bank, Oando and others.

The domestic market closed today’s trading session on a negative note due to deteriorated sentiment, with key market performance indicators declining by -0.32%.

The stock market index or All-Share Index fell by -458.98 basis points to close at 144,187.03, while Market capitalization dropped by ₦291.93 billion to ₦91.71 trillion.

The local bourse witnessed price depreciation in WEMABANK, TANTALIZER, OANDO, IKEJAHOTEL, MAYBAKER, among others and some block transactions were conducted off market.

Trading activity weakened significantly across all metrics: volume dropped 60.87% to 349.29 million shares, transaction values declined 60.51% to ₦9.30 billion, and deal count fell 7.28% to 18,753.

This downturn reflects diminished institutional activity through reduced block trades, while retail participation stayed subdued amid prevailing risk-averse sentiment

FIDELITYBK topped the volume chart, accounting for 15.73% of shares traded in the market, followed by FCMB (8.80%), TANTALIZER (8.62%), GTCO (7.44%), and ACCESSCORP with 5.20%.

GTCO topped transaction value chart, accounting for 23.27% of total trades executed in the Nigerian market.  NCR top gainers chart, up by +10.00%, followed by ROYALEX (+7.57%), CILEASING (+6.00%), LIVINGTRUST (+3.87%), RTBRISCOE (+3.55%), UNIVINSURE (+2.56%), and eight others.

A total of thirty-eight stocks depreciated, according to market report. With a price depreciation of -10.00%, OMATEK and NEIMETH both topped the worst performers’ chart, followed by TANTALIZER (-9.75%), INTENEGINS (-9.62%), WEMABANK (-8.63%), IKEJAHOTEL (-7.32%), and OANDO (5.59%).

The market breadth closed on a negative note, as there were 14 gainers and 38 losers. Sectoral performance was broadly negative: Insurance posted the steepest decline at 3.82%, followed by Banking (-1.06%), Oil & Gas (-0.40%), Consumer Goods (-0.32%), and Industrial (-0.01%), while the Commodity sector remained unchanged.  GTCO Slides Amidst Multiple Block Transactions