NGX market capitalisation dips further as three companies delist shares
At the Nigerian Exchange (NGX) on Thursday, the equities market extended its downward trend this month, as the All-Share Index (ASI) declined by 0.02 per cent to 105,525.26 basis points.
Market capitalisation also fell by 0.05 per cent to ₦66.16 trillion, following the delisting of Capital One, Med-View Airline, and Goldlink Insurance from the Nigerian Exchange Group (NGX), resulting in a ₦30.44 billion loss in equities by the session’s close.
Consequently, the Month-to-Date and Year-to-Date returns settled at -0.1 per cent and +2.5 per cent, respectively. The overall market downturn weighed on investor sentiment, leading to weak market breadth—20 stocks advanced, while 32 declined.
Top gainers included Africa Prudential, Guinea Insurance, Daar Communication, Mansard Insurance, and RT Briscoe, as their share prices appreciated by 9.76 per cent, 9.52 per cent, 8.33 per cent, 7.87 per cent, and 7.14 per cent, respectively.
On the flip side, the biggest decliners were Livestock, PZ, Mutual Benefits Assurance, UAC Nigeria, and NSLTECH, after their respective share prices dipped by 10.00 per cent, 9.97 per cent, 9.35 per cent, 9.23 per cent, and 9.09 per cent.
Sectoral performance was predominantly negative, with the Banking, Consumer Goods, Oil & Gas, and Industrial Goods sectors posting losses of 0.36 per cent, 0.66 per cent, 0.19 per cent, and 0.02 per cent, respectively. The Insurance sector, however, gained 1.70 per cent, while the Commodities sector remained unchanged at 0 per cent.
Trading activity was subdued, as the number of deals, total transaction volume, and value declined by 20.94 per cent, 9.35 per cent, and 27.24 per cent, respectively. A total of 13,667 transactions were recorded, amounting to ₦8.74 billion in value and 397.12 million units traded.
Universal Insurance was the most traded stock by volume at 49.75 million units, while Guaranty Trust Holding Company was the most traded stock by value at ₦1.79 billion.
