Investors on the Nigerian Exchange (NGX) saw losses exceeding N284 billion as stock prices fell, with the banking and telecom sectors taking the hardest hit. Despite a brief recovery the previous day, the market closed in the red as key performance indicators declined by 0.43% amid heightened sell-off.
Profit-taking actions in medium- and large-cap equities were the main cause of the decline. The All-Share Index closed at 106,167.75, down 454.16 points, according to trading data.
Market activity was also lower, with total trading volume dropping by 11.06% and total transaction value plummeting by 55.08%. According to stockbrokers, about 324.59 million shares worth N7.92 billion changed hands in 12,652 deals.
Most Active Stocks
- Highest Volume: FIDELITYBK led trading volume with 9.07% of total market transactions, followed by ACCESSCORP (8.75%), GTCO (8.66%), ZENITHBANK (6.90%), and UNIVINSURE (5.00%).
- Highest Value: GTCO was the most traded stock by value, accounting for 21.27% of total transactions.
- Top Gainers: LIVESTOCK led the gainers’ chart with a 9.93% price increase, followed by CORNERST (+9.25%), INTENEGINS (+8.99%), SMURFIT (+8.33%), LASACO (+7.55%), and SOVRENINS (+6.00%).
- Top Losers: MECURE suffered the biggest drop, losing 10.00% in value. Other major losers included DAARCOMM (-7.46%), MTNN (-4.22%), AFRIPRUD (-2.90%), FIDELITYBK (-2.57%), and ACCESSCORP (-1.84%).
Sector Performance Three out of the five major sectors declined:
- Consumer Goods: -0.28%
- Banking: -0.21%
- Oil & Gas: -0.03%
- Insurance: +0.87% (the only gainer)
- Industrial Sector: Unchanged
The NGX market capitalisation closed at N66.48 trillion, down N284.41 billion overall.
