News Africa

Nigerian exchange shrinks by N671billion as Dangote, FBNH dip

The equities market capitalisation of the Nigerian Exchange (NGX) shrank by more than N671 billion due to selloff in Dangote Cement, FBN Holdings and others.

The sustained selloffs in the local bourse dragged key performance indicators lower by 1.19%, causing year to date return to reduce further. As a result, the market index or the All-Share Index reduced by 1,167.97 basis points in today’s trading session to close at 97,064.42 points.

Stockbrokers observed profit-taking activities in some medium and large-cap stock. The decliners include DANGCEM, DANGSUGAR, FBNH, and others. Today, market activities inched lower as the total volume and total value traded for the day dropped by 36.96% and 20.02% respectively.

In its market update, Atlass Portfolios Limited said approximately 268.39 million units valued at ₦6,758.88 million were transacted across 8,565 deals. UBA was the most traded stock in terms of volume, accounting for 13.85% of the total volume of traded on the Exchange.

Other volume drivers include ZENITHBANK (7.10%), DEAPCAP (5.19%), STERLINGNG (4.88%), and CAVERTON (4.52%) to complete the top 5 on the volume chart. SEPLAT emerged as the most traded stock in value terms, with 34.65% of the total value of trades on the exchange.

Also, SEPLAT topped the advancers’ chart today with a price appreciation of 10.00 percent. Other gainers include LIVESTOCK (+9.93%), REGALINS (+9.76%), CAVERTON (+9.63%), MANSARD (+7.82%), ABCTRANS (+7.69%) and nineteen others.

Twenty-seven stocks depreciated, according to data from the Nigerian Exchange. DANGCEM and MICNICHOLS were the top losers, with a price depreciation of -10.00% each.

Other decliners include DANGSUGAR (-4.41%), FBNH (-4.26%), HONYFLOUR (-4.21%), WAPCO (-1.76%), and TRANSCORP (-1.34%).

At the end of trading session, Stockbrokers said the market breadth closed negative, recording 27 gainers and 23 losers. However, the market sector performance was positive, as three of the five major market sectors were up.

The Oil & Gas sector grew by +3.80% followed by the Insurance sector which advanced by +2.00% while the Banking sector inched higher by +0.03%. On the other hand, the Industrial and Consumer goods sectors declined by 5.96% and 0.20% respectively.

Overall, the equities market capitalisation of the Nigerian Exchange declined or lost ₦671.16 billion to close at ₦55.78 trillion.

 

Source: dmarketforces.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

Related Articles

Back to top button