The Nigerian Exchange (NGX) opened the trading week in the red, shedding a massive ₦220 billion in market value on Monday, amid weak investor sentiment in the consumer and industrial goods sectors.
At the close of trading, the market capitalisation dropped from ₦89.72 trillion to ₦89.5 trillion, while the All-Share Index (ASI) fell by 347.12 points (0.24%) to settle at 141,498.20.
Despite Monday’s setback, the index still showed a year-to-date return of 37.48%, although it recorded a weekly loss of 0.11%, partially offset by a four-week gain of 0.35%.
Investors exchanged a total of 488.5 million shares worth ₦13.71 billion in 28,598 deals, representing:
- 13% increase in volume
- 2% rise in turnover
- 18% growth in deals, compared to the previous session
Out of 125 stocks that traded, 22 gained, 28 lost, while the rest closed flat.
Top Gainers and Losers: Royal Exchange Leads the Pack
Royal Exchange topped the gainers’ chart with a 9.8% surge to ₦2.24, followed by:
- Secure Electronic Technology (+6.67% to ₦0.80)
- Chams (+6.13% to ₦3.29)
- Prestige Assurance (+5.75% to ₦1.84)
- Daar Communications (+5.66% to ₦1.12)
On the flip side, McNichols led the losers with a 10% decline to ₦3.33, followed by:
- Ikeja Hotel (-9.8% to ₦20.70)
- FTN Cocoa Processors (-8.33% to ₦5.50)
- Nigerian Breweries (-7.64% to ₦70.15)
- Honeywell Flour Mills (-6.79% to ₦20.60)
Most Active Stocks by Volume and Value
- Universal Insurance topped volume charts with 79.6 million shares traded
- Zenith Bank followed with 58.6 million shares
- Nigerian Breweries recorded 32.5 million shares
- UBA came in at 32 million shares
By value:
- Zenith Bank led with ₦3.86 billion
- Nigerian Breweries followed with ₦2.4 billion
- GTCO traded ₦1.74 billion
- UBA moved ₦1.38 billion
- MTN Nigeria posted ₦277.6 million
Sector Performance: Mixed Results Across Boards
- The Premium Board Index recorded a marginal gain of 0.02%
- The NGX Industrial Index closed flat
- The Insurance Index dropped 0.08%
- The Banking Index declined 0.25%
- The Main Board Index fell by 0.39%
The bearish start to the week highlights persistent investor caution, especially in sectors sensitive to inflationary pressures and declining consumer spending.
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