Nigerian Stock Market Loses N260bn Post-Eid Trading

On the first trading day after the Eid ul Mawlid public holiday, the Nigerian stock market experienced a downturn, closing with a loss of N260 billion. The Nigerian Exchange Limited All-Share Index (NGX ASI) fell by 402.25 basis points, or 0.17%, ending at 238,682.92 basis points.

The Month-to-Date and Year-to-Date returns were recorded at -2.7% and +53.4%, respectively. The overall market capitalization decreased to N154.137 trillion.

Sector performance was predominantly negative, with declines in the NGX Insurance (-0.9%), NGX Banking (-0.4%), NGX Consumer Goods (-0.3%), and NGX Oil & Gas (-0.1%) indices. The decline was attributed to price depreciation in major stocks, including FTN Cocoa Processors, Zenith Bank, PZ Cussons Nigeria, Zichis Agro Allied Industry, and Oando.

Investor sentiment was negative, with 39 decliners compared to 17 advancers. Neimeth International Pharmaceuticals gained 9.66% to close at N7.95, while Fidson Healthcare led the losers with a 9.99% drop to N84.20.