Equity Investors Lose N265bn as NGX Extends 0.40% Bearish Run

Samuel Mobolaji

Equity investors lost N265 billion as the NGX All-Share Index (ASI) declined by 0.40 per cent to 105,375.69 points, dragging market capitalisation down to N66.08 trillion.

Despite a 26.71 per cent drop in trading volume to 349.98 million shares and a 16.94 per cent decline in deals to 11,230, total transaction value jumped 16.62 per cent to N8.22 billion, reflecting increased activity in high-value stocks.

However, investor sentiment remained mixed, with a market breadth of 1.27, indicating more gainers than losers.

The financial services sector dominated trading, accounting for 250.15 million shares valued at N4.27 billion. ACCESSCORP led activity with 36.76 million shares traded, closing at N23.20, while ZENITHBANK gained 0.42 per cent to N47.75, topping the value chart with N929.98 million in transactions.

On the NASD OTC Exchange, the NSI rose 0.54 per cent to 3,386.7 points, lifting market capitalisation to N1.96 trillion despite a 32.11 per cent decline in volume and a 71.81 per cent drop in transaction value to N5.12 million. SDCSCSPLC led the gainers, surging 9.96 per cent to N23.85, while SDGEFLUID declined 5.17 per cent to N2.75.

With declining investor participation on the NGX and weaker sentiment on the NASD, market watchers remain cautious about near-term recovery prospects.