Nigerian Exchange Index Down 0.46%, Equity Investors Lose N425bn

Nigerian Exchange Index Down 0.46%, Equity Investors Lose N425bn

The Nigerian Exchange (NGX) year-to-date return moderated sharply by more than N425 billion as the all-share index pulled back from climbing due to sustained selling pressures in the local bourse. The negative sentiment in the local bourse heightened as investors reacted to disinflation, which has widened the real return on naira assets in the fixed income market.

Risk appetite in the equity market started to ease since the week began, though early bargain hunting in insurance names patched profit taking activities. Trading patterns have now shown that investors have started dumping stocks across sectorial indexes.

Hence, the market index fell by 46 basis points on the day to close at 144,628.20 points, while the year-to-date return moderated to 40.52% on Friday. NEM, CONAHLLPLC, ELLAHLAKES, MTNN, and 35 others, with the insurance sector leading the decline among the major sectors.

Trading activities were down today as the total volume and total value of trades decreased by -43.93% and -36.80%, respectively. Stockbrokers reported that approximately 1,367.08 million units valued at ₦13,758.77 million were transacted across 31,717 deals.

In terms of volume, UNIVINSURE led the activity chart, accounting for 22.48% of the total volume of all trades consummated in the local bourse, followed by AIICO (8.59%), MBENEFIT (7.46%), VERITASKAP (5.13%), and SOVRENINS (4.52%).

The losers chart also features NEM (-9.97%), STERLINGNG (-5.06%), INTBREW (-4.62%), MANSARD (-4.50%), MTNN (-3.26%), FCMB (-1.35%), UCAP (-1.28%), UBA (-0.62%), OANDO (-0.48%), and FIDELITYBK (-0.24%), among others.

GTCO emerged as the most traded stock in value terms, accounting for 14.46% of the total value of trades on the exchange. MBENEFIT topped the advancers’ chart for today with a price appreciation of 10.00 percent, trailed by IKEJAHOTEL (+9.95%), WEMABANK (+9.90%), DEAPCAP (+9.52%), TRIPPLEG (+8.32%), DANGSUGAR (+6.57%), and twenty-four others.

Thirty-nine stocks depreciated, according to data obtained from the Nigerian Exchange.LASACO, INTENEGINS, and LINKASSURE were the top losers, with a price depreciation of -10.00% each.

Other decliners include MEYER (-9.95%), VERITASKAP (-9.92%), CONHALLPLC (-9.86%), PRESTIGE (-9.63%), and STERLINGNG (-5.06%).Today’s market breadth closed negative, recording 30 gainers and 38 losers.

The sustained sell pressures signal growing investor caution and doubts about the market’s underlying strength. As a result, market capitalisation dropped by ₦425.05 billion to ₦91.50 trillion. 

Sector performance was predominantly weak, with losses in Insurance (-8.73%), Consumer Goods (-0.32%), Oil & Gas (-0.69%), Industrial (-1.32%), and Commodity (-0.57%) sectors, though Banking (+0.56%) gained, while Industrial and Commodity remained constant.

Reflecting the downbeat mood, market activity weakened, with trading volume and value decreasing by 44.04% and 37.33% to 1.37 billion units worth N13.92 billion across 32,065 transactions. #Nigerian Exchange Index Down 0.46%, Equity Investors Lose N425bn Nigerian Exchange Shrinks as Equity Investors Lose N357bln