NGX Market Cap Sinks Below N160trn as Bears Strike Harder
The equities market capitalisation sank below N160 trillion on Monday as bears strike harder on mid- and large-cap stocks on the Nigerian Exchange.
The Nigerian Exchange (NGX) lost about N1.47 trillion at the beginning of the week, continuing its bearish trend after a N600 billion loss last week.
The All-Share Index declined by 0.91% to 245,278.34 points, moderating its year-to-date return to 57.62%. Consequently, market capitalisation fell by ₦1.47 trillion, settling at ₦159.26 trillion.
Stockbrokers reported that trading activity strengthened, with total volume traded up 34.85% to 349.34 million units, and transaction value up 37.96% to ₦17.99 billion.
The number of deals also increased by 34.85% to 43,115, indicating heightened trading activity despite the market’s broad decline.
Market breadth turned negative, with 15 gainers and 40 losers, yielding a 0.38x gainers-to-losers ratio, as declining stocks significantly outnumbered advancing stocks.
ACCESSCORP led in trading volume, with 23.44 million shares exchanged across 1,872 deals, while ARADEL dominated in trading value, recording transactions worth approximately ₦3.84 billion across 1,508 deals.
Sectoral performance was broadly negative, with the Industrial (-2.90%), Banking (-1.40%), Insurance (-0.89%), Consumer Goods (-0.16%), and Oil & Gas (-0.06%) indices recording losses, while Commodities remained flat. European Markets Rise, U.S. Stocks Dip on AI Financing Scrutiny
