The Nigerian Exchange (NGX) saw a decline in value as sell-offs in oil and consumer goods stocks led to a market loss of around N19 billion. ARADEL (-8.72%), INTBREW (-2.44%), and UACN (-2.44%) were the main contributors to the downturn.
Stocks like WAPCO (+9.95%) and banking giant FBNH (+3.92%) saw increases, but the market’s mood shifted to negativity in the middle of the day. As a result of this change, the main performance index dropped by 0.03%. The All-Share Index ended the day at 97,702.56, down 31.3 medium-ts.
The sell-offs in medium and large-cap stocks such as ARADEL and UACN overshadowed the broader positive market breadth. Data from Atlass Portfolios Limited indicated a surge in NGX activity, with the total trading volume and value increasing by 156.26% and 169.58%, respectively. Around 1.16 billion units worth N27.36 billion were traded across 9,403 deals.
MANSARD led in trading volume, contributing 8.15% of total trades, followed by UBA (7.79%), ACCESSCORP (6.99%), ELLAHLAKES (5.77%), and FBNH (5.75%). In terms of value, ARADEL was the top sGoldbrewcountBetaglas19.27% of all transactions.
GOLDBREW and BETAGLAS led the advancers’ chart, each appreciating by 10%. Other gainers included WAPCO (+9.95%), HONYFLOUR (+9.89%), and SUNUASSUR (+9.88%).
On the decliners’ list, SOVRENINS recorded the highest loss at -10.00%, followed by JOHNHOLT (-9.98%), ELLAHLAKES (-9.92%), and ARADEL (-8.72%).
The NGX market breadth remained positive, with 29 stocks gaining against 23 losers. Sector performance was mixed, with indices for insurance (+2.68%), industrial goods (+0.90%), and banking (+0.82%) recording gains. Meanwhile, consumer goods (-0.22%) and oil and gas (-0.09%) sectors faced downward pressure.
The capitalisation of the equity market closed at N58.23 trillion, down N18.98 billion.
