Stock Market Shrinks Below N149trn over 3-Day Losses
The stock market capitalisation of all listed companies in Nigeria sank below $149 trillion amid a monster sell-off across key sectors of the local bourse.
The Nigerian equities market closed the week in bearish territory, with key market performance indicators dipping 0.66% on Friday.
The Nigerian Exchange (NGX) sustained its downward trajectory for the third consecutive session, driven by widespread profit-taking in medium- and large-cap stocks.
Stockbrokers said the Oil & Gas and Insurance sectors led declines, with ARADEL, JAPAULGOLD, INTENEGINS, CORNERST, AIICO, and others posting significant losses on Friday.
Specifically, the market index fell by -1,531.81 basis points in today’s trading session, indicating a -0.66% decline to close at 232,049.02, while market capitalisation fell by ₦982.96 billion, representing a decline of -0.66%, settling at ₦148.91 trillion.
Total volume of all trades and the total value of all transactions declined by -1.26% and -4.07%, respectively. Atlass Portfolio Limited reported that approximately 388.69 million units, valued at ₦18,430.61 million, were transacted across 44,631 deals.
ACCESSCORP accounted for 8.57% of all volumes traded in the local bourse, followed by WEMABANK (6.28%), DEAPCAP (6.21%), CHAMS (4.90%), and STERLINGNG with 4.47%.
ARADEL generated 23.41% of the total trade value, making it the most traded on the exchange. Top gainers include UNIVINSURE (+6.32%), followed by MCNICHOLS (+5.52%), LINKASSURE (+4.67%), NGXGROUP (+4.35%), TRANSCORP (+3.62%), VERITASKAP (+3.57%), and seven others.
A total of thirty-seven stocks depreciated. With a price depreciation of -10.00% each, ARADEL topped the worst performers’ chart, followed by INTENEGINS (-9.95%), TRANSEXPR (-9.89%), ETRANZACT (-9.79%), UPDC (-9.72%), and ROYALEX (-9.66%).
Hence, market breadth closed on a negative note, with 13 gainers and 37 losers. Sectoral performance was negative, with all five major market sectors declining.
The Oil & Gas sector led the decline by -4.66%, followed by the Insurance sector (-2.23%), the Consumer Goods sector (-0.96%), the Banking sector (-0.28%), and the Industrial Goods sector (-0.002%). Global Markets Mixed on Renewed US-Iran Threat
