Investors Lose N284bn as NGX Drops 0.43% on MTNN, Bank....

The Nigerian Exchange, NGX, saw its market capitalisation drop by N284 billion as sell-offs in MTN Nigeria and banking stocks dragged the bourse lower. The All-Share Index shed 454.16 points to close at 106,167.75, marking a 0.43 per cent decline.

The downturn came after a brief recovery in the previous session, as profit-taking in medium- and large-cap stocks reversed earlier gains. Trading activity weakened, with total volume and value of transactions plunging by 11.06 per cent and 55.08 per cent, respectively.

Market data showed that 324.59 million shares worth N7.92 billion were exchanged in 12,652 deals. FIDELITYBK led in volume, accounting for 9.07 per cent of total shares traded, followed by ACCESSCORP, GTCO, ZENITHBANK, and UNIVINSURE. GTCO emerged as the most traded stock by value, contributing 21.27 per cent of total turnover.

Decliners outnumbered gainers, with 31 stocks closing lower against 22 advancers. MECURE topped the losers’ chart, sliding 10.00 per cent, while DAARCOMM, MTNN, AFRIPRUD, FIDELITYBK, and ACCESSCORP also recorded losses. Conversely, LIVESTOCK led the gainers, rising 9.93 per cent, followed by CORNERST, INTENEGINS, SMURFIT, and LASACO.

Sectoral performance was broadly negative, with the consumer goods, banking, and oil & gas sectors posting declines. However, the insurance sector gained 0.87 per cent, while the industrial sector closed flat.

At the close of trading, the NGX equities market capitalisation stood at N66.48 trillion, reflecting sustained sell pressure across key counters.