Equities investors lost N1.06 trillion as 41 stocks declined on the Nigerian Exchange (NGX) trading platform. The local bourse experienced a strong bearish trend, with the steepest daily decline of the year pulling key market performance indicators down by 1.66%.
The downturn was driven by significant sell-offs in major blue-chip and mid-cap stocks such as Dangote Cement (DANGCEM), Julius Berger (JBERGER), MTN Nigeria (MTNN), and others.
The NGX All-Share Index (ASI) dropped by 1,745.16 basis points, representing a -1.66% decline to close at 103,622.09. Despite this, market activities increased slightly, with total volume and total value traded rising by 1.06% and 57.01%, respectively.
Atlass Portfolios Limited reported that approximately 511.16 million units valued at N12,758.80 million were traded across 13,052 deals. In terms of volume, Guaranty Trust Holding Company (GTCO) led the activity chart, accounting for 10.72% of the total volume traded. Other top contributors included Nigerian Breweries (NB) at 6.35%, Universal Insurance (UNIVINSURE) at 6.08%, AIICO Insurance (AIICO) at 5.24%, and Chams Holding Company (CHAMS) at 3.93%.
GTCO also emerged as the most traded stock by value, contributing 26.84% of the total traded value on the exchange.
On the gainers’ chart, Northern Nigeria Flour Mills (NNFM) led with a price appreciation of 10.00%, followed by Livestock Feeds (+9.91%), Academy Press (+9.90%), University Press (UPL) (+9.82%), Neimeth International Pharmaceuticals (+9.76%), SCOA Nigeria (+9.71%), and 17 others.
Conversely, 41 stocks recorded price declines. Honeywell Flour Mills (HONYFLOUR) topped the losers’ chart with a price depreciation of -10.00%. Other notable decliners included Dangote Cement (-9.98%), Julius Berger (-9.98%), NGX Group (-8.47%), Japaul Gold (-5.96%), and MTN Nigeria (-3.72%).
Market breadth closed negative, with 23 gainers and 41 losers. Sectoral performance also ended in the red, with four of the five major market sectors recording losses. The industrial sector fell by -4.99%, insurance by -2.80%, consumer goods by -0.27%, and banking by -0.10%. The oil and gas sector, however, grew marginally by 0.29%.
Overall, the equities market capitalization on the NGX declined by N1.06 trillion, representing a -1.66% decrease, to close at N63.19 trillion.
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