Equity Investors Lose N1.3trn as NGX Index Plunges by 1.35%
The equity segment of the Nigerian Exchange (NGX) bled deeper on Wednesday, closing in negative territory as sustained profit-taking continued to weigh on overall performance.
With sell-offs cutting deeper, the NGX All-Share Index (ASI) declined by 1.35% to close at 150,812.02 points, trimming the year-to-date (YTD) return to 46.52%.
Consequently, investors lost approximately ₦1.306 trillion in market value, bringing total market capitalisation down to ₦95.82 trillion. Market sentiment remained weak, reflected in a negative market breadth of 15 gainers against 46 losers.
Total volume of traded increased by +63.36% while the total value traded rose by 46.16% and approximately 1,117.25 million units valued at ₦29,780.76 million were transacted across 27,303 deals.
Concerning volume, STERLINGNG took the lead on the chart with 15.82% of the total volume traded, followed by ZENITHBANK (10.40%), FCMB (7.83%), ACCESSCORP (7.64%), and GTCO with 5.52%.
ZENITHBANK generated 20.56% of the total value of trade, thereby making it the highest traded on the exchange.
NCR emerged as the best performer, as it witnessed a price appreciation of 10.00%, trailed by LEGENDINT (+9.16%), CORNERST (+8.80%), UPDC (+8.30%), LINKASSURE (+8.11%), HONYFLOUR (+5.82%), and ten others.
A total of forty-five (45) stocks depreciated. Down by -10.00% each, CILEASING and TRANSCORP had the worst performer, followed by SKYAVN (-9.99%), BETAGLASS (-9.99%), RTBRISCOE (-9.92%), and SOVRENINS (-9.76%).
Thus, the market breadth closed on a negative note, as there were only 16 gainers and 45 losers.
Sectoral performance was broadly bearish, as the Banking (-0.19%), Insurance (-0.08%), Oil & Gas (-1.02%), and Commodity (-1.16%) indices all posted losses.
In contrast, the Industrial Goods and Consumer Goods sectors were the only gainers, rising 0.22% each. Despite the negative price trend, overall market activity improved.
Although the number of deals fell by 17.98% to 27,303 transactions, total traded volume and value rose by 63.36% and 46.16%, respectively, to 1.12 billion units and ₦29.78 billion. #NLNG, NCDMB launch ICT Hub to Boost Tech Skills in Nigeria
