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NGX Index slips 0.36% as Investors Lose N147bn on Sell Pressure 

3 weeks ago 0
Money-market

The Nigerian Exchange (NGX) All-Share Index fell by 0.36 per cent on Monday, leading to a loss of N147 billion in market capitalisation as sustained sell pressure dragged banking and energy stocks lower.

The decline extended last week’s bearish trend that wiped off over N109 billion from investors’ portfolios, reinforcing negative sentiment across the local bourse.

Read Also: Heineken Raises Stake in Nigerian Breweries to 72.9% as Revenue Hits N1.1trn

Oando Plc led the losers’ chart with a 9.52 per cent drop, followed by Access Holdings, which slumped 7.28 per cent. Other notable decliners included FCMB (-3.87%), Transcorp (-3.13%), Jaiz Bank (-3.11%), UBA (-1.90%), Zenith Bank (-1.67%), Wema Bank (-1.36%), Fidelity Bank (-1.25%), GTCO (-0.65%) and Aradel Holdings (-0.60%).

The market downturn was largely driven by risk-off sentiment amid global macroeconomic headwinds and weak investor confidence.

Sectoral indices across banking and energy segments remained under pressure, with analysts predicting further weakness unless a positive catalyst emerges.

According to Alpha Morgan Capital, the market is likely to remain bearish this week as investors adjust portfolios and brace for more policy signals.

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  • LASG Creates 3,941 Parking Slots To Ease Traffic Congestion
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705, Lagos-Abeokuta Expressway, Ijaiye, Lagos State

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Copyright © 2024 Lagos Business News All rights reserved. Developed by G-Link Information & Communication

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About Us

Lagos Business News (LBN) is Nigeria’s leading online business news platform for recent and detailed reports. At Lagos Business News (LBN), we are determined at changing the face of business reporting in Nigeria through professionalism and ample knowledge of the journalism practices, while providing adequate information and platform for businesses in Lagos and across the country to thrive.

Latest News

  • LASG Creates 3,941 Parking Slots To Ease Traffic Congestion
  • Federal Govt Defends ₦10bn Solar Project Amidst ₦47bn Electricity Bill Concerns
  • Akpabio Heads Nigerian Delegation to Pope Francis’ Funeral at Vatican
  • Court Orders Arrest, Remand of six CBEX Promoters over Alleged $1bn Ponzi Scheme
  • World Bank Appoints Aliko Dangote to Elite Private Sector Investment Group

Contact us

705, Lagos-Abeokuta Expressway, Ijaiye, Lagos State

Email: lagosbusinessnewsinfo@gmail.com
Facebook- https://www.facebook.com/Lagosbusinessnews/
Twitter- https://twitter.com/lagosbusinessn1
Instagram- https://www.instagram.com/lagosbusinessnews.ng/

Copyright © 2025 Lagos Business News All rights reserved. Developed by G-Link Information & Communication

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