NGX Loses N110bn as Investor Sentiment Weakens
The Nigerian Exchange (NGX) shed over ₦110 billion on Monday as investor sentiment weakened, dragging the year-to-date return down to 40.86 per cent.
The All-Share Index slipped by 173.26 basis points to close at 144,986.51, while market capitalisation fell by ₦110.19 billion, settling at ₦92.21 trillion, reflecting cautious trading amid continued uncertainty over the long-term effects of the new capital gains tax.
Market activity was mixed, with total traded volume rising 5.72 per cent to 381.23 million units, but total value dropped 45.89 per cent to ₦16.72 billion across 21,827 deals. TANTALIZER led in volume, accounting for 16.08 per cent, followed by STERLINGNG (8.59 per cent) and UNIVINSURE (7.69 per cent), while ARADEL dominated value, contributing 19.23 per cent of total trade value.
On the gainers’ chart, NCR topped with a 9.95 per cent increase, followed by UPL (9.80 per cent) and TANTALIZER (9.79 per cent). Conversely, LIVINGTRUST recorded the steepest loss at -9.90 per cent, with MCNICHOLS (-9.00 per cent) and LIVESTOCK (-7.75 per cent) also declining sharply.
Overall, market breadth was negative, with 26 gainers and 28 losers. Sectoral performance was mixed as the Banking, Consumer Goods, and Oil & Gas indices fell by 0.90 per cent, 0.02 per cent, and 0.04 per cent, respectively, while the Insurance index inched up 0.13 per cent. Industrial goods and commodities closed flat, highlighting subdued activity in line with the prevailing cautious investor sentiment.
