NGX Market Cap Falls N1.166 Trillion After Bullish Run

The Nigerian Exchange Ltd. (NGX equities market) ended its four-session rally on Tuesday after heavy selling pressure hit several major stocks.

Market capitalisation dropped 0.73 per cent, falling from N160.421 trillion to N159.255 trillion. The All-Share Index (ASI) also lost 1,806.18 points to close at 246,723.57.

The decline pushed the market’s year-to-date return down to 58.55 per cent. However, market breadth remained positive, with 28 stocks recording gains compared with 27 decliners.

Thomas Wyatt Nigeria topped the losers’ table, falling 9.97 per cent to N2.89. AVA Capital followed with a 9.60 per cent decline to N8.95. International Energy Insurance dropped 6.32 per cent to N4, while International Breweries fell 5.98 per cent to N11. Guinea Insurance also declined 5.13 per cent to 74k.

On the positive side, UPDCREIT led the gainers after rising 10 per cent to N14.85. FTN Cocoa Processors followed closely, gaining 9.88 per cent to N8.90. C&I Leasing added 8.26 per cent to N5.90, while Sovereign Trust Insurance advanced 6.74 per cent to N1.90. Regency Alliance Insurance gained 6.33 per cent to 84k.

Trading activity increased sharply during the session. Investors exchanged 3.909 billion shares valued at N32.38 billion across 45,608 deals, compared with 1.137 billion shares worth N27.02 billion in 59,185 deals on Monday.

Fortis Global Insurance dominated the NGX equities market, trading 3.29 billion shares worth N9.58 billion. The company accounted for 84.22 per cent of total trading volume and 29.57 per cent of total value.

The session highlights how quickly market sentiment can shift, even after several days of strong gains. The NGX equities market will now look to see whether investors return to buying interest or extend Tuesday’s sell-off.

Do you expect the NGX to recover quickly after Tuesday’s sharp decline?