TUE FEB 25 2025-theGBJournal| The NGX All-Share Index (ASI) fell by 0.32% to 107,781.61 points on Tuesday, erasing N215.11 billion in market value, and bringing total capitalization to N67.16 trillion.
Despite the downturn, trading activity remained strong, with volume and value increasing by 1.47% and 9.85%, respectively, across 13,753 deals, signalling heightened investor repositioning amid bearish sentiment.
All major indices closed in the red, with Insurance (-3.52%) leading losses due to sharp declines in AIICO (-4.07%), INTENEGINS (-9.75%), and LASACO (-9.12%). The Oil & Gas sector (-1.04%) suffered from a sell-off in OANDO (-9.72%), while Banking (-0.56%) and Consumer Goods (-0.22%) also recorded declines.
The Industrial Index (-0.02%) saw marginal losses, reflecting widespread selling pressure. While the broader market remained bearish, select growth stocks showed resilience, with SMURFIT (+10.00%), NGXGROUP (+9.97%), and REDSTAREX (+9.57%) recording notable gains.
Meanwhile, banking stocks dominated trading volume, led by ACCESSCORP, JAIZBANK, and ZENITHBANK (21.57% of total volume), while ARADEL contributed 15.69% of total value traded, despite a marginal decline to N515.
A negative market breadth of 0.27x and a UD ratio of 0.17 indicate intensified selloffs and limited buying pressure.
However, fundamentally strong stocks with favourable earnings outlooks may present strategic accumulation opportunities as investors seek to capitalize on price corrections amid sustained market weakness.
The NASD OTC market saw a 0.25% increase in the NSI and market capitalization, with the index reaching 3,268.7 and market cap totaling N1.856 trillion.
Despite the positive index and market cap movement, trading volume dropped significantly by 80.31%, while the total value of trades fell by 91.45%, highlighting a sharp contraction in market activity.
SDOKITIPUPA (+10.00%) led the gainers log, while SDGEFLUID (-4.79%) led the laggards
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