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

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.

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.