NGX Index moderates as investors exit positions

Nigerian Exchange (NGX) ended its recent positive streak on Wednesday, with the All-Share Index (ASI) declining 0.08% to 196,463.22 points, bringing the year-to-date return to 26.25%.

Market capitalisation similarly contracted by 0.08%, shedding ₦101.9 billion to ₦126.1 trillion. Market sentiment was bearish at 0.6x, with 37 declining counters overshadowing 22 advancing stocks.

The gainers’ list was led by PREMPAINTS (10.00%), FTGINSURE (9.74%), and UACN (7.78%), while the losers’ list was led by DANGSUGAR (-10.00%), JAIZBANK (-10.00%), and CAP (-9.97%).

Activity levels were down, with total volume decreasing to 805.25 million and total value traded falling to N38.42 billion. 

The number of deals also decreased to 71,312, compared to the last trading session, when 880.01 million shares valued at N44.51 billion were exchanged in 86,761 deals.

VERITASKAP led the volume chart with 56.42 million units, while MTNN topped the value chart with trades worth N7.08 billion.

Sectoral activity was largely negative: Consumer Goods led decliners with a 0.86% drop, followed by Banking declining 0.45%, Oil & Gas slipping 0.03%, and Industrial decreasing 0.03%, while Insurance gained 0.33%, and the Commodity sector remained unchanged.

Trading metrics weakened broadly as share volume declined 8.49% to 805.25 million units, deal count dropped 17.8% to 71,312 transactions, and transaction value fell 13.69% to ₦38.42 billion.