Investors Lose N443bn as Stock Market Downturn Enters 9Days
The Nigerian stock market index declined on Friday, with investors losing more than N443 billion, as the downturn in the local bourse entered its 9th day. The market closed the week in bearish territory, with key performance indicators recording a 0.29% loss.
The losing streak, which persisted all week, was driven by sustained selling pressures across major market sectors. Mid-cap and blue-chip stocks such as FCMB, DANGSUGAR, ZENITHBANK, and FIRSTHOLDCO recorded significant losses today.
The Nigerian Exchange (NGX) All-Share Index (ASI) fell by -686.64 basis points, or -0.29%, to close at 239,351.16. Also, the stock market capitalisation decreased by ₦443.32 billion, closing at ₦154.53 trillion.
The overall market posted a bearish week-on-week performance, with NGXASI down 1.35%, while investors’ wealth also declined by approximately ₦2.09 trillion.
Total Volume of all trades declined by -85.49%, while the total value of all transactions executed, on the other hand, increased by +4.81%. Stockbrokers reported that approximately 416.67 million units, valued at ₦35,631.12 million, were transacted in 36,324 deals.
STERLINGNG topped the volume chart, accounting for 12.03% of units traded, followed by NGXGROUP (9.26%), FIRSTHOLDCO (8.18%), ACCESSCORP (5.77%), and UBA (4.96%).
SEPLAT was the value driver, accounting for 26.91% of the total value of all trades, making it the most actively traded on the exchange.
RTBRISCOE led the gainers chart, up by +9.63%, then trailed by FTGINSURE (+8.11%), TRANSEXPR (+7.84%), MEYER (+5.98%), ARADEL (+5.71%), CADBURY (+4.68%), and sixteen others. A total of twenty-five (25) stocks depreciated.
With a price depreciation of -10.00%, INTENEGINS topped the worst performers’ chart, followed by OMATEK (-9.55%), MCNICHOLS (-6.73%), UPDC (-5.63), WAPIC (-5.45%), and CMFC (-5.39%).
Hence, market breadth closed on a negative note, with 22 gainers and 25 losers. Sectoral performance was negative today, with three of the five major market sectors declining.
The Banking sector led the decline by -0.80%, followed by the Insurance sector (-0.69%), and the Consumer goods sector (-0.03%). The Oil & Gas and the Industrial goods sectors increased by +2.54% and +0.001%, respectively. #Investors Lose N443bn as Stock Market Downturn Enters 9Days# Nigerian Stock Market Surges as Investors Gain N192bn
