Investors in Nigerian stocks lost over ₦225 billion on Thursday as the month’s trading activities on the Nigerian Exchange (NGX) closed on a downturn. According to data from the exchange, the key performance indicator dropped by 0.38%, reducing the year-to-date returns further.
This week has been challenging for the equities market, as the All-Share Index fell by 372 points in Thursday’s session, ending at 97,651.23. This marked four consecutive days of losses due to sell-offs in blue-chip stocks, including ARADEL and 25 others.
Atlass Portfolios Limited reported that the extended sell-off led to a cumulative decline of ₦1.09 trillion in investors’ wealth over the last four days.
On Thursday, market activity dipped as both trading volume and value dropped by 0.40% and 34.57%, respectively. Stockbrokers noted that approximately 536.79 million shares, worth₦10,010.99 million, were traded across 9,053 deals.
UBA was the most traded stock by volume, making up 13.95% of all trades. Other actively traded stocks included UACN (10.35%), CHAMS (10.01%), JAIZBANK (8.65%), and VERITASKAP (7.56%).
In terms of trade value, UBA also led, representing 24.89% of total transactions.
SUNUASSUR topped the gainers list with a price increase of 10.00%, followed by EUNISELL (+9.89%). Other notable gainers were UPL (+9.74%), CORNERST (+9.60%), and PRESTIGE (+9.26%).
On the losing side, twenty-six stocks saw declines, led by VERITASKAP and ARADEL, which both fell by -10.00%. Other losers included NSLTECH (-9.09%), BETAGLAS (-7.25%), and CAVERTON (-4.59%).
The market closed with 24 gainers and 26 losers, resulting in negative market breadth. However, sector performance was mixed, with three of the five main sectors ending in positive territory. The Oil & Gas sector grew by 1.27%, insurance rose by 1.12%, and banking increased by 0.28%. Meanwhile, the industrial and consumer goods sectors saw slight declines, falling by 0.09% and 0.06%, respectively.
Overall, the NGX’s market capitalization dropped by ₦225.41 billion, closing the month at ₦59.17 trillion.
