…The Market Capitalization also fell 0.55% to N66.352 trillion by close of trading Friday while the month-to-date and year-to-date returns moderated to -1.7% and +2.9%, respectively.
SAT MARCH 15 2025-theGBJournal| Stocks continued their month long tumble Friday as sell offs drained the benchmark index and market capitalization.
The NGX All-Share Index fell 0.55% week-to-date (WTD), closing at 105,955.13 points, driven by profit-taking in TANTALIZER (-9.85%), JAIZBANK (-9.72%), DANGSUGAR (-7.76%), MTNN (-4.2%), OANDO (-7.1%) and UBA (-3.6%).
All other indices finished lower with the exception of NGX Insurance, NGX AseM, NGX MERI Growth, NGX Consumer Goods and NGX Commodity which appreciated by 0.89%, 0.04%, 0.89%, 0.03% and 0.02% respectively.
The Market Capitalization also fell 0.55% to N66.352 trillion by close of trading Friday while the month-to-date and year-to-date returns moderated to -1.7% and +2.9%, respectively.
Trading in the top three equities namely Sovereign Trust Insurance Plc, Champion Breweries Plc and Jaiz Bank Plc (measured by volume) accounted for 1.621 billion shares worth N3.244 billion in 1,528 deals, contributing 49.42% and 5.11% to the total equity turnover volume and value respectively.
Despite a 119.65% surge in volume, market value declined 33.61%, indicating lower-priced stocks dominated trades. CHAMPION led the volume chart (46.68%), while ARADEL accounted for over 16.5% of the total value traded, alongside CHAMPION and MTNN.
Four of five sector indices closed negative. The Insurance Index gained 0.50%, supported by ROYALEX (+10%) and LINKASSURE (+9.57%), while Consumer Goods (-1.08%) and Banking (-0.19%) suffered losses from DANGSUGAR (-7.76%), ACCESSCORP (-1.06%), and STANBIC (-1.67%). Oil & Gas also weakened, with JAPAULGOLD (-2.42%) and OANDO (-1.89%) dragging the sector.
The market breadth of 0.92x indicates weak sentiment, as Thirty-eight equities appreciated in price during the week, higher than thirty equities in the previous week.
Forty-six equities depreciated in price, lower than fifty-eight in the previous week, while sixty-six equities remained unchanged, higher than sixty-two recorded in the previous week.
Meanwhile, at the NASD OTC market, the NSI fell by 0.60% DTD and 0.20% WTD, with market capitalization dropping to N1.94 trillion, indicating a slight bearish sentiment.
While volume plunged by 83.27%, the value of transactions surged by 40.49%, suggesting fewer but higher-value trades; the 117.65% jump in trades reflects increased market participation.
AG Mortgage Bank (9.43%) led gains, followed by FrieslandCampina, WAMCO (6.96%) and Afriland Properties (1.29%), signaling investor interest in select stocks despite overall market weakness.
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