MON MARCH 17 2025-theGBJournal| The NGX All-Share Index (ASI) fell Monday after another rough start to the week for equities.
The Index dumped 0.15%, extending last week’s losses, while market capitalization slightly dipped by 0.01% despite the listing of 16.67 billion additional shares in STERLINGNG at N4.50 per share.
This expansion raised the company’s total issued shares to 45.46 billion, with investors recording a N7.80 billion loss, bringing market capitalization to N66.34 trillion.
Sell pressures was also on OANDO (-2.0%), GTCO (-0.6%) and FIDELITYBK (-2.0%, as the Month-to-Date and Year-to-Date returns moderated to -1.9% and +2.8%, respectively.
The total volume of trades declined by 36.4% to 477.51 million units, valued at N7.05 billion, and exchanged in 13,520 deals.
JAIZBANK was the most traded stock by volume at 197.42 million units, while MTNN was the most traded stock by value at N1.30 billion.
Sectoral performance was broadly negative as the Insurance (-1.8%), Consumer Goods (-0.4%), Banking (-0.2%) and Oil & Gas (-0.2%) indices closed lower. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.5x), as 34 tickers lost relative to 18 gainers.
ETRANZACT (-10.0%) and SUNUASSUR (-9.9%) posted the most significant losses of the day, while ACADEMY (+9.9%) and NEIMETH (+8.4%) led the gainers.
Meanwhile, the NASD OTC market opened the week on a positive note, with the NSI rising 0.15% to 3,368.6, driven by gains in SDOKITIPUPA (+2.49%), SDGEFLUID (+2.07%), and SDFCWAMCO (+2.00%).
This lifted market capitalization to N1.94 trillion, despite a slowdown in trading activity.
Liquidity weakened significantly as volume traded declined by 55.79% to 288,383 units, while value traded fell by 45.27% to N18.16 million. The number of executed trades also dropped by 27.03%, reflecting reduced market participation.
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