Shareholders Lose N476bn as NGX Index Slumps
The Nigerian Exchange (NGX) closed negatively on Friday, with equities investors or shareholders recording a loss of about N476 billion in their combined equity portfolio value.
Due to sustained selling pressure throughout the week, the Nigerian Exchange All-share Index (ASI) dropped by 38 basis points, dragging the year-to-date return downward. The decline was largely driven by sustained profit-taking in some recently appreciated midcap and blue-chip stocks across key market sectors.
All-share index fell by -741.04 basis points in today’s trading session, indicating a -0.38% decline to close at 192,826.77, stockbrokers reported. The Nigerian Exchange market capitalisation reduced by ₦475.62 billion to close at ₦123.76 trillion, reflecting a whopping N1.4 trillion weekly loss.
Total volume of all trades declined by -5.15% on the Friday session, while the total value traded increased by +10.37%. Stockbrokers reported that approximately 823.83 million units valued at ₦34,750.17 million were transacted across 63,759 deals.
FTGINSURE accounted for 17.86% of total volume executed across sectoral names, followed by ZENITHBANK (9.67%), JAPAULGOLD (6.96%), JAIZBANK (6.03%), and ACCESSCORP (5.45%).
ARADEL accounted for 20.57% of the total value of trade, making it the highest-traded on the exchange. SOVRENINS led top performers with a +9.95% gain, followed by RTBRISCOE (+9.93%), NGXGROUP (+9.78%), ELLAHLAKES (+9.70%), OMATEK (+9.70%), GUINEAINS (+9.45%), and thirty-three others.
According to stockbrokers, 24 stocks declined. With a price depreciation of -9.97%, MECURE topped the worst performers’ chart, followed by MEYER (-9.90%), DAARCOMM (-9.83%), CHAMPION (-6.49%), DANGCEM (-6.09%), and ETRANZACT (-4.52%).
Hence, the market breadth closed on a positive note, with 39 gainers and 24 losers. Sectoral performance was mixed. The Insurance (+1.52%), Banking (+0.79%) and Consumer Goods (+0.28%) indices closed higher, supported by gains in MANSARD (+8.24%), ZENITHBANK (+2.25%), and BUAFOODS (+0.30%), respectively.
On the flip side, the Industrial Goods (-2.44%) index led the negative charge, dragged down by DANGCEM (-6.09%), while the Oil & Gas (-0.26%) and Commodity (-0.22%) indices followed suit as sell pressure resurfaced in ARADEL (-0.91%). GTCO Climbs to N4.3trn Ahead of 2025 Earnings
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