Equities Investors Lose N108bn as NGX ASI Closes in Red
The Nigerian Exchange (NGX) market capitalisation dropped as equity investors’ portfolio value decreased by about N108 billion amid sustained selloffs in mid- and large-cap stocks on Wednesday.
The lingering profit-taking activities initiated by sell-side actors on Tuesday dragged key performance indicators southward, and year-to-date return moderated.
All-Share Index (ASI) declined 0.09% to 195,898.53 points, reducing the year-to-date return to 25.89%. Market capitalisation similarly contracted by 0.09%, shedding ₦107.57 billion to ₦125.75 trillion.
Market sentiment was negative at 0.7x, as 40 losing stocks outnumbered 29 gainers. NGXGROUP, PREMPAINTS, OMATEK, PRESTIGE, and HMCALL emerged as top performers, whereas PRESCO, UACN, MORISON, LIVINGTRUST, and SCOA recorded the heaviest losses.
Sectoral activity was mixed: Industrial led gains with a 1.42% rally, followed by Banking, which edged up 0.04%. In contrast, Commodity led decliners, down 1.30%, followed by Insurance, down 0.44%, Consumer Goods, down 0.43%, and Oil & Gas, down 0.06%.
Trading metrics weakened broadly as share volume tumbled 8.61% to 671.27 million units, deal count decreased 9.31% to 58,792 transactions, and transaction value fell 5.18% to ₦26.13 billion.
