Nigerian Exchange Loses N306bn in Bearish Trading Day

On Friday, the Nigerian Exchange (NGX) reported a negative performance in domestic equities, with a decline of N306 billion in market capitalization, dropping from N159.893 trillion to N159.587 trillion, a decrease of 0.19 percent. The NGX All Share Index fell by 474.00 basis points, closing at 247357.40 points, down from 247831.40 points the previous day.

Despite a positive market breadth featuring 33 gainers and 25 decliners, significant losses in major stocks, particularly Presco and 24 other companies, overshadowed the gains from stocks like Cornerstone Insurance, Honey Well Flour, and C&I Leasing. Year-to-date returns decreased to 58.96 percent.

Notably, CNIF led the gainers with a 10 percent increase, closing at N127.60 per unit, while Presco topped the losers’ chart with a 10 percent drop, closing at N2070.00 per unit. Trading volume decreased by 167.80 million shares, a 21.45 percent drop, with a total of 614.550 million shares traded valued at N32.950 billion across 55282 deals.