Investors in the Nigerian Exchange (NGX) faced a significant loss of over ₦317.5 billion as sell-offs continued on Monday, pushing the equities market further into a downward trend. Key performance indicators dropped by 0.54%, setting a bearish tone for the start of the week.
The NGX All-Share Index fell by 524.04 points, closing at 96,907.98. This decline follows last week’s substantial loss of ₦1.22 trillion across five consecutive bearish trading days, as investors offloaded medium- and large-cap stocks.
Monday’s sell-off affected major stocks like Aradel and Oando, extending the market’s losing streak to six days, during which the NGX has lost a total of ₦1.54 trillion.
While trading volumes increased by 37.68%, the total value of trades dropped by 10.15%, reflecting mixed market activity. According to Atlass Portfolios Limited, 1,223.70 million units worth ₦14,233.80 million were traded across 10,386 transactions.
CONHALLPLC emerged as the most traded stock by volume, contributing 46.38% of total market volume, with UBA (19.69%) and STERLINGNG (10.00%) following. In value terms, UBA led with 51.21% of total market value.
Leading gainers included JOHNHOLT and UBA, both of which appreciated by 10.00%, followed by EUNISELL, which rose by 9.96%. Other gainers included STERLINGNG (+5.96%), PZ (+4.55%), JAIZBANK (+4.44%), and GUINEAINS (+4.44%).
In contrast, 29 stocks declined on Monday, with CAVERTON leading the losers, dropping by 10.00%, closely followed by ARADEL with a 9.99% drop. Other decliners included OANDO (-9.98%), FTNCOCOA (-9.90%), NEIMETH (-7.73%), and JAPAULGOLD (-4.00%). At market close, there were 17 gainers and 29 losers, with overall negative market breadth.
Sectoral performance was mixed. Banking (+1.13%) and Consumer Goods (+0.21%) indices closed positive, driven by gains in UBA (+10.00%) and FLOURMILL (+3.23%). However, losses in VERITASKAP (-9.86%) and OANDO (-9.98%) weighed on the Insurance (-0.75%) and Oil & Gas (-0.16%) indices, while the Industrial Goods index remained unchanged.
Overall, the NGX’s market capitalization decreased by ₦317.54 billion, closing at ₦58.72 trillion.
