The Nigerian Exchange (NGX) closed the week on a bearish note as persistent sell-offs wiped out over ₦425 billion in market value.
The All-Share Index dropped 46 basis points to settle at 144,628.20 points, cutting the year-to-date return to 40.52 per cent.
Market sentiment weakened as investors reacted to the latest disinflation figures, which widened the real returns on fixed-income naira assets and prompted a shift away from equities. Although some early bargain-hunting in insurance stocks provided brief support, widespread sell pressure dragged performance lower across most sectors.
Insurance was the worst-hit sector, falling 8.73 per cent, while other key sectors also recorded declines: Consumer Goods (-0.32%), Oil & Gas (-0.69%), and Industrial (-1.32%). The Banking index, however, gained 0.56 per cent, while Commodities remained unchanged.
Thirty-nine stocks declined, including NEM (-9.97%), STERLINGNG (-5.06%), INTBREW (-4.62%), MANSARD (-4.50%), and MTNN (-3.26%).
Trading activity slowed significantly, with the volume and value of transactions falling by 43.93% and 36.80%, respectively. Brokers reported that 1.37 billion units valued at ₦13.76 billion were traded across 31,717 deals. UNIVINSURE dominated activity by volume with 22.48% of trades, followed by AIICO (8.59%) and MBENEFIT (7.46%). GTCO led by value, accounting for 14.46% of the day’s total.
On the gainers’ chart, MBENEFIT rose 10 per cent, followed by IKEJAHOTEL (+9.95%), WEMABANK (+9.90%), and DEAPCAP (+9.52%).
Market capitalisation fell to ₦91.50 trillion, with the sustained declines reflecting growing investor caution over the strength of the equities market.
