NGX sheds N100bn as bearish sentiment persists

Trading on the Nigerian Exchange closed on a negative note on Thursday, with the market capitalisation dipping to approximately N159.05tn from the N159.15tn recorded on Wednesday.

The All-Share Index similarly decreased by 159.55 points, moving from 245,116.49 to settle at 244,956.94. Throughout the session, the market recorded a total volume of 360,706,232 shares traded across 31,355 deals.

The Central Bank of Nigeria benchmark Monetary Policy Rate remained fixed at 23.00 per cent. In the equity gainers category, Ava Capital led the advancers with a 9.85 per cent increase, rising from N6.60 to N7.25, followed by PZ Cussons Nigeria, which gained 8.58 per cent to close at N68.95.

Other notable equity gainers included Tantalizers up by 5.85 per cent, International Energy Insurance gaining 5.42 per cent, and VFD Group rising 3.59 per cent.

Conversely, Thomas Wyatt Nigeria suffered the steepest loss of the day, dropping 10.00 per cent to close at N2.52.

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Additional significant losers included Austin Laz and Company down by 8.81 per cent, Secure Electronic Technology falling 6.85 per cent, and UPDC Plc dropping by 6.49 per cent.

Across the exchange, sectoral indexes displayed mixed movements.

The NGX Main-Board Index declined to 10,752.60, the NGX 30 Index settled at 9,010.45, and the NGX Banking Index closed lower at 2,452.40.

However, the NGX Growth Index experienced an increase, closing at 26,839.75 compared to the previous day’s 26,724.27, while the NGX Sovereign Bond Index remained unchanged at 661.50.

Exchange Traded Products also saw activity, with the Vetiva Industrial ETF leading the ETF gainers by rising 4.81 per cent to N118.96, whereas the Siam Pension ETF 40 recorded the highest loss among ETFs, dropping 6.75 per cent to close at N1,921.00.