NGX Index Slips 0.03% as Investors Lose N21bn to Sell-offs
NGX
Samuel Mobolaji
The Nigerian Exchange (NGX) opened the week on a negative note as equities investors recorded a loss of N21 billion amid persistent sell pressure.
The All-Share Index dipped by 33.72 points, representing a 0.03 per cent decline to close at 104,529.62, as the banking sector led the downturn with a steep 1.99 per cent drop.
Market capitalisation fell from N65.71 trillion to N65.69 trillion, reflecting the cautious mood ahead of fresh inflation data.
Trading activity was mixed, with total volume declining by 12.16 per cent to 379.95 million shares, even as total value rose by 3.98 per cent to N10.1 billion across 10,791 deals.
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ACCESSCORP led the activity chart, commanding 13.08 per cent of total volume, followed by ZENITHBANK at 12.95 per cent. ABBEYBDS topped the gainers’ chart with a 9.95 per cent rise, while INTENEGINS led decliners with a 9.76 per cent drop.
Market breadth closed slightly positive at 28 gainers against 24 losers, though sectoral performance showed weakness, with the insurance sector down 0.36 per cent and oil & gas shedding 0.19 per cent. As sell pressure persists, analysts expect short-term market direction to hinge on upcoming macroeconomic data and sustained profit-taking across key sectors.
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