The Nigerian Exchange (NGX) has continued to decline as investors withdraw more funds from the stock market, leading to weaker investor sentiment. The stock market started the week on a negative note, with key performance indicators showing mixed results. The All-Share Index (ASI) dropped by 0.15%, while the market capitalization posted a slight loss of 0.01%.
The difference in these figures was largely influenced by the listing of Sterling Financial Holdings Company Plc’s 16.67 billion ordinary shares at ₦4.50 per share through a private placement on the exchange.
As a result, the market index declined by 155.96 basis points, reflecting a 0.15% decrease to close at 105,955.13 points. Similarly, market capitalization fell by ₦7.81 billion, settling at ₦66.34 trillion.
According to stockbrokers at Atlass Portfolios Limited, the slight decline was mainly due to the additional listing rather than widespread selling by investors. However, beyond the impact of the new listing, the market downturn was also driven by profit-taking in key stocks across various sectors.
Trading activity was lower than the previous session, with total trading volume and value dropping by 36.38% and 36.25%, respectively. A total of 477.51 million shares worth ₦7.05 billion were traded across 13,520 deals.
JAIZBANK led trading in terms of volume, accounting for 41.39% of total shares traded, followed by ZENITHBANK (5.45%), SOVRENINS (4.04%), PRESTIGE (3.89%), and FIDELITYBK (3.33%). MTNN was the most traded stock by value, accounting for 18.53% of total transaction value.
ACADEMY topped the gainers’ chart with a 9.92% price increase, followed by NEIMETH (+8.43%), TANTALIZER (+6.83%), DANGSUGAR (+4.71%), STANBIC (+4.24%), and IKEJAHOTEL (+3.72%).
On the losing side, 34 stocks recorded declines, with ETRANZACT being the worst performer, losing 10%. Other major losers included PRESTIGE (-8.26%), LIVESTOCK (-6.86%), INTBREW (-5.45%), NGXGROUP (-2.59%), and OANDO (-2.02%).
The market breadth remained negative, recording 18 gainers and 34 losers. Sector-wise, the market performance was mostly negative, as four out of the five major sectors declined. The Insurance sector lost 1.79%, Consumer Goods fell by 0.38%, Banking declined by 0.20%, and Oil & Gas dropped by 0.19%. The Industrial sector remained unchanged.
 has continued to decline as investors withdraw more funds from the stock market, leading to weaker investor...){kind=link}