The Nigerian Exchange (NGX) recorded a N37 billion loss on Thursday as investors sold off shares in Aradel Holdings, Access Holdings Plc, and Lafarge Africa (WAPCO). The All-Share Index (ASI) fell by 0.06%, ending at 98,114.11, amid sell-offs in major stocks.
The year-to-date market return was slowed by the ASI’s 60.88 basis point decrease, which was indicative of portfolio rebalancing operations. The market was significantly impacted by specific losses such as ARADEL (-1.48%), WAPCO (-2.05%), and ACCESSCORP (-1.84%).
Despite the negative close, trading activities were mixed. The total trading volume rose by 38.53%, while the total value of trades fell by 35.58%. According to analysts from Atlass Portfolio Limited, Thursday’s trading saw 723 million shares worth N12.84 billion exchanged across 8,695 deals.
Top Volume and Value Drivers
- CHAMPION Breweries emerged as the most traded stock by volume, accounting for 41.67% of total shares traded.
- Other volume contributors included FIDELITYBK (6.73%), GTCO (5.56%), ACCESSCORP (4.93%), and WAPCO (4.03%).
- By value, GTCO dominated, representing 16.51% of total trade value.
Gainers and Losers
Market breadth remained positive, with 35 gainers and 16 losers.
- Top Gainers: CORNERST and UPL led with a 10.00% increase each, followed by STERLINGNG (+9.98%) and GOLDBREW (+9.84%).
- Top Losers: REDSTAREX recorded the steepest loss, falling 10.00%, followed by FTNCOCOA (-5.61%) and NEIMETH (-2.78%).
Sectoral Performance
Three of the five major market sectors closed positive:
- Insurance: (+3.13%), buoyed by gains in CORNERST (+10.00%).
- Oil & Gas: (+1.13%), supported by CONOIL (+5.07%).
- Consumer Goods: (+0.02%), aided by HONYFLOUR (+1.01%).
- Conversely, the Banking (-0.26%) and Industrial Goods (-0.24%) indices declined due to losses in ACCESSCORP (-1.84%) and WAPCO (-2.05%).
The NGX market capitalisation of stocks decreased by N36.91 billion overall, ending the day at N59.48 trillion.
