Equities Investors Lose N110bn as Oando, PZ Cussons Decline

Equities Investors Lose N110bn as Oando, PZ Cussons Decline

Equities investors lost more than N110 billion as the Nigerian Exchange (NGX) All-Share Index dipped amid sell pressure in Oando, PZ Cussons, Dangote Sugar Refinery, and other risky assets.

The local bourse closed trading on a negative note again on Wednesday, as key performance indicators declined by 0.07%. Continued sell-offs in medium- and large-cap stocks, including OANDO, TRANSCORP, PZ, and DANGSUGAR, drove the bearish performance across key market sectors.

The stock market index fell by 176.75 basis points to close at 250,096.75, while market capitalisation dropped by ₦110.16 billion to ₦162.39 trillion.

Total volume and total value of all shares traded in the local bourse declined by 22.83% and 36.37%, respectively. Stockbrokers told investors that approximately 446.99 million units, valued at ₦22,953.68 million, were transacted in 38,905 deals. A

ZENITHBANK topped volume drivers, accounting for 7.87% of all shares traded in the market, followed by CMFC (7.38%), ACCESSCORP (5.70%), MULTITREX (5.50%), and SOVRENINS (5.49%).

ZENITHBANK also topped the value chart, accounting for 20.77% of the total value of shares traded, making it the most traded stock on the exchange.

TRIPPLEG led the gains at +9.96%, followed by CMFC (+9.86%), CHAMPION (+9.50%), WAPIC (+9.24%), MULTITREX (+8.33%), ROYALEX (+8.00%), and sixteen others.

A total of thirty stocks depreciated. With a price depreciation of -9.74%, THOMASWY topped the worst performers’ chart, followed by SOVRENINS (-7.60%), LIVINGTRUST (-7.25%), NEIMETH (-4.61%), VERITASKAP (-4.42%), and JAPAULGOLD (-3.33%).

Hence, market breadth closed negative, with 22 gainers and 30 losers. Sectoral performance was negative today, with three of the five major market sectors declining.

The Banking sector decreased by -0.36%, followed by the Oil & Gas sector (-0.09%), and the Consumer goods sector (-0.08%). The Insurance and Industrial goods sectors rose by 0.03% and 0.002%, respectively. Tech, AI Stocks Drive Global Equities Markets Recovery