NGX contiues losing streak as investors shed N581bn in 1-day

Nigerian equities market continues its bearish run on Thursday, with investors losing N581bn as profit-taking in heavyweight and mid-cap stocks dragged key market indicators lower for the fourth consecutive trading session.

At the close of trading, the market capitalisation of listed equities declined by 0.37 per cent to N155.359tn from N155.940tn recorded in the previous session.

Similarly, the All-Share Index fell by 905.30 points, or 0.37 per cent, to close at 242,227.31 points, reflecting sustained selling pressure across major counters.

The downturn was largely driven by price depreciation in stocks such as Aradel Holdings, UACN, Stanbic IBTC Holdings, Eterna, and Transnational Corporation.

Market breadth remained negative as 30 stocks recorded losses against 24 gainers, underscoring the prevailing bearish sentiment among investors.

McNichols Plc led the losers’ chart after shedding 10 per cent to close at N7.74 per share. Associated Bus Company followed with a decline of 9.88 per cent to N6.20 per share, while Eterna dropped 9.85 per cent to settle at N29.75 per share.
Aradel Holdings lost 9.51 per cent to close at N1,749.90 per share, while NPF Microfinance Bank declined by 8.45 per cent to N5.20 per share.

On the gainers’ table, International Energy Insurance emerged as the best-performing stock, appreciating by 10 per cent to close at N6.60 per share. Omatek Ventures rose by 9.73 per cent to N2.03 per share, while Ellah Lakes and Abbey Mortgage Bank each gained 9.68 per cent to close at N8.50 per share. Cutix advanced by 9.66 per cent to N3.18 per share.

Trading activity weakened significantly during the session, with total volume traded falling by 43.4 per cent to 522.28 million units valued at N24.11bn, exchanged in 53,613 deals.

Access Holdings dominated the activity chart with 109.72 million shares traded, valued at N2.62bn. FCMB Group followed with 34.60 million shares worth N384.16m, while Nigerian Exchange Group recorded transactions of 28.05 million shares valued at N3.89bn.

Zenith Bank traded 26.94 million shares worth N3.32bn, while Sterling Financial Holdings Company completed the top five most active stocks with 22.49 million shares valued at N176.10m.

The continued decline highlights persistent profit-taking by investors, which has weighed on market performance despite pockets of buying interest in select counters.