The Nigerian Exchange (NGX) closed lower for the second consecutive trading day on Tuesday, as persistent selling pressure weighed on market breadth and key indices. The bearish sentiment pushed the All-Share Index below the 250,000 mark, driven largely by profit-taking in major sectors including banking, consumer goods, industrial, and oil and gas.
Market Performance
The year-to-date return dropped to 60.05% from the previous session's 61.71%. The NGX All-Share Index lost 2,571.7 points to close at 249,063.7, down from 251,635.4. Market capitalization correspondingly declined, reflecting the overall negative sentiment. Despite the downturn, the insurance sector and some mid-cap stocks posted mild gains, bucking the trend.
Sector Breakdown
- NGX Industrial Goods Index: -3.84%
- NGX Consumer Goods Index: -0.45%
- NGX Banking Index: -0.31%
- NGX Oil & Gas Index: -0.10% (flat)
- NGX Insurance Index: +0.80% (only gainer)
Top Decliners
- BUA Cement: N464.00 to N414.00 (down N50.00, -10.00%)
- CAP Plc: N233.70 to N210.35 (down N23.35, -9.99%)
- eTranzact International: N18.50 to N17.20 (-7.03%)
- International Breweries: N13.00 to N12.30 (-5.38%)
- DEAP Capital: N6.10 to N5.80 (-4.92%)
Top Gainers
- Zichis Plc: N29.13 to N32.04 (up N2.91, +9.99%)
- ABC Transport: N7.51 to N8.26 (up N0.75, +9.99%)
- Japaul Gold and Ventures: N4.09 to N4.46 (up N0.37, +9.95%)
- LivingTrust Mortgage Bank: N3.83 to N4.21 (+9.92%)
- FTN Cocoa Processors: N9.79 to N10.76 (+9.91%)
Trading Activity
Total volume traded was 600.2 million shares, lower than the previous session. The most actively traded stocks included Access Holdings (55.9 million shares), Japaul Gold and Ventures (49.8 million shares), Zenith Bank (36.6 million shares), and Sterling Financial Holdings (25.9 million shares). In terms of value, Zenith Bank led with N4.8 billion, followed by Aradel Holdings (N3.7 billion), while MTN Nigeria, Dangote Cement, and Nigerian Exchange Group also featured among top value traded stocks.
Related Development: First HoldCo Completes Sale
Earlier, Legit.ng reported that First HoldCo Plc completed the divestment of its merchant banking subsidiary, FBNQuest Merchant Bank Limited, selling its entire stake to EverQuest Group. The parent company of First Bank of Nigeria stated that the transaction aligns with its strategic plan to optimize capital allocation, improve capital efficiency, and support growth in core commercial banking operations. EverQuest Acquisition LLP, the preferred bidder, is a consortium of investment and financial services firms. Proceeds from the sale will be used to bolster FirstBank's capital base.
