Nigerian Exchange Limited Loses N425bn Amid Profit-Taking

On September 30, the Nigerian equities market closed on a bearish note, with the All-Share Index of the Nigerian Exchange Limited decreasing by 0.28% to 251,211.67 basis points, down from 251,913.20 points. This decline resulted in a loss of N425.73 billion in market capitalization, which fell from N163.53 trillion to N163.10 trillion.

The market sentiment was mixed, with significant selling pressure on blue-chip banking and telecommunications firms, while selective demand in industrial and consumer goods stocks provided some support. The NGX Premium Index decreased by 1.02%, and the NGX Banking Index fell by 0.58%.

In contrast, the NGX Industrial Index rose by 0.66%, driven by interest in BUA Cement Plc. Trading volume was substantial, with 1.035 billion shares exchanged in 44,398 deals, led by VFD Group Plc, which traded 367.32 million shares.

Haldane McCall Plc was the top gainer, increasing by 10.00% to N3.41 per share, while Learn Africa Plc led the losers, dropping 10.00% to N7.65 per share.