Nigerian Exchange Sheds N81bn as Investors Sentiment Shifts
Equity investors trading highs and lows on the Nigerian Exchange (NGX) lost about N81 billion as the local bourse experienced significant selling pressures in key stocks.
The local bourse opened the new week on a negative note, with key market performance indicators dipping by 0.05%. The slight downtick was driven by profit-taking in mostly mid-cap stocks, including AFRIPRUD, TIP, UACN, BERGER, and NB, across major market sectors.
The NGX All-Share Index fell by -126.09 basis points in today’s trading session, indicating a -0.05% decline to close at 250,204.83, while market cap dropped by ₦80.82 billion to close at ₦160.36 trillion.
Total volume of all trades and the total value traded declined by -26.16% and -16.36%, respectively. Stockbrokers reported that approximately 800.46 million units valued at ₦37,045.16 million were transacted across 87,096 deals.
UBA accounted for 8.16% of total volume traded in the local bourse, followed by FIDELITYBK (7.19%), ACCESSCORP (5.31%), DAARCOMM (4.61%), and NSLTECH with 4.59%.
ARADEL accounted for 16.63% of the total value of all trades executed, thereby making it the highest traded on the exchange.
OANDO and UPL topped the gainers’ chart, up by +10.00% each, then trailed by DEAPCAP (+9.96%), MAYBAKER (+9.94%), TRANSEXPR (+9.92%), ABCTRANS (+9.89%), NEIMETH (+9.57%), and twenty-six others.
A total of thirty-five stocks depreciated. With a price depreciation of -9.99% each, NCR and ZICHIS topped the worst performers’ chart, followed by IMG (-9.93%), SOVRENINS (-9.86%), DAARCOMM (-9.78%), CWG (-9.27%), and RTBRISCOE (-9.03%).
Hence, the market breadth closed on a negative note, with 33 gainers and 35 losers. Sectoral performance was mixed, as Oil & Gas (+0.40%), Banking (+0.17%), and Commodity (+0.02%) finished in positive territory, while Consumer Goods (-0.26%), Insurance (-0.20%), and Industrial (- 0.09%) weighed on the index. FG Unveils Digital Tax Ombud Platforms to Boost Confidence
