NGX Sheds N48bn as Investors Shift Focus to Debt Securities
NGX
Samuel Mobolaji
The Nigerian Exchange, NGX, lost N48.45 billion on Wednesday as investorscontinued to move funds into fixed-income securities. The stock market closedin negative territory, with the All-Share Index declining by 0.07 per cent tosettle at 106,090.38 points.
Analysts attributed the downturn to sustained sell pressure in key stocksacross major sectors, reflecting heightened investor caution. Persistentsell-offs over the past two trading sessions have erased N333 billion frominvestors’ wealth, according to Atlass Portfolios Limited.
Despite the market decline, trading activity surged, with total volume andvalue rising by 361.77 per cent and 29.57 per cent, respectively. A total of1.5 billion shares worth N10.26 billion were traded in 11,748 deals.
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SOVRENINS dominated the volume chart, accounting for 66.15 per cent of totalshares traded, followed by JAIZBANK (12.52%), NSLTECH (2.91%), ZENITHBANK(1.52%), and UCAP (1.22%). In value terms, MTNN led transactions, contributing26.34 per cent of the total market turnover.
On the gainers’ list, TANTALIZER topped with a 9.79 per cent increase,followed by NSLTECH (+9.68%), CAVERTON (+9.09%), FTNCOCOA (+6.51%), JAIZBANK(+6.04%), and LINKASSURE (+5.26%).
Conversely, CONOIL led the losers, shedding 10.00 per cent, with BERGER(-9.81%), MULTIVERSE (-9.66%), CONHALLPLC (-6.49%), UCAP (-4.93%), andDANGSUGAR (-3.00%) also recording declines.
Market breadth remained negative, with 19 gainers against 31 decliners.Sectoral performance was largely bearish, as the Oil & Gas (-0.56%),Consumer Goods (-0.23%), and Insurance (-0.22%) indexes closed lower. TheBanking index was the only gainer, rising 0.25 per cent on renewed interest inGTCO (+2.84%).
Overall, the NGX’s market capitalisation fell to N66.44 trillion, reflectinginvestors’ growing preference for fixed-income securities.
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