Equity Investors Lose N348bn Amidst Extended Market Correction
The Nigerian Exchange (NGX) shrank by about N348 billion on Thursday as investors’ equity portfolio value declined by N348 billion in the latest round of market correction.
Key performance indicators continue to plunge as selling pressures lasted for eight out of nine trading sessions in spite of earnings releases, with year-to-date return dropping to 45.76%.
Investors’ sentiment has been negative, with profit-taking activities seen in some stocks that recently posted positive price movement. Weak bargain hunting in banking names keeps the Nigerian market tight, with some corrections seen in some overpriced stocks.
A total of 39 stocks depreciated, with the most loss coming from the Banking sector, reflecting broad-based market corrections. Oil and consumer goods stocks have been major drivers of the price depreciation, supported by losses booked in financial stocks.
Today, the market index, or All-Share Index, fell by 547.32 basis points in today’s trading session, indicating a 0.36% decline to close at 150,026.55.
Hence, the Nigerian Exchange market capitalisation fell by ₦347.74 billion to close at ₦95.31 trillion, reflecting a decline in trading activities.
Trading dynamics weakened significantly across all metrics as volume plunged 44.54% to 619.63 million shares, transaction values declined 44.58% to ₦16.5 billion, and deal count fell 8.93% to 24,865.
This trend underscores diminished institutional participation, reduced transaction sizes, and subdued retail investor engagement amid ongoing risk-off positioning and portfolio rebalancing strategies.
FCMB led the volume chart, accounting for 24.25% all transaction volume, followed by CONHALLPLC (12.79%), ZENITHBANK (6.77%), STERLINGNG (6.22%), and ACCESSCORP with 5.23%.
On value traded, ZENITHBANK generated 15.22% of the total value of trade, thereby making it the highest traded on the exchange. UPDC topped the best performers, gained +9.83%, followed by FCMB (+8.00%), OMATEK (+7.44%), AIICO (+5.35%), MANSARD (+5.26%), HONYFLOUR (+4.78%), and nine others.
A total of thirty-nine (39) stocks depreciated, according to data from the Nigerian bourse. LEGENDINT top losers chart, down by -9.93%, followed by CHAMPION (-9.72%), TANTALIZER (-8.12%), SOVRENINS (-7.51%), LINKASSURE (-7.50%), and MAYBAKER (-6.52%).
Trading data confirmed that the market breadth closed on a negative note as there were only 15 gainers and 39 losers.
Sectoral performance was predominantly negative: Banking (-0.56%), Insurance (-0.28%), Oil & Gas (-0.08%), and Consumer Goods (-0.06%) recorded capital losses, while the Industrial sector posted a marginal gain of 0.20%. The Commodity sector closed flat. Equity Investors Lose N348bn Amidst Extended Market Correction Cadbury Nigeria Shares Hit Oversold, Analysts Now See Upside
