Wednesday, 15 January 2025 04:37

Nigerian stock market loses N1.1trn in major selloff

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The Nigerian Exchange Limited (NGX) experienced a significant decline yesterday as investors lost N1.1 trillion in a broad market selloff affecting 41 stocks. The All-Share Index fell by 1,745.16 points (1.66%) to close at 103,622.09, while the market's total value dropped to N63.188 trillion.

Major companies, including Dangote Cement, Julius Berger Nigeria, and MTN Nigeria Communications, led the downturn. The market showed overall negative sentiment, with 41 stocks declining compared to just 23 gainers.

Among the top performers, Northern Nigeria Flour Mills led with a 10% gain, closing at N45.10. Other notable gainers included Livestock Feeds (+9.91%) and Academy Press (+9.90%). On the losing side, Honeywell Flour Mills saw the steepest decline of 10%, closing at N9.54, while both Julius Berger and Dangote Cement fell by 9.98%.

Trading volume increased slightly by 1.1% to 511.157 million units, with a total value of N12.759 billion across 13,052 transactions. Guaranty Trust Holding Company (GTCO) was the most actively traded stock, with 54.352 million shares worth N3.152 billion changing hands, followed by Nigerian Breweries with 32.198 million shares valued at N1.029 billion.

The market decline reflects broader investor concerns, with significant pressure on large and medium-sized companies across various sectors of the Nigerian economy.​​​​​​​​​​​​​​​​

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