Friday, 11 April 2025 04:36

Nigerian stock market dips as major stocks face selloff

Rate this item
(0 votes)

The Nigerian Exchange Limited (NGX) reversed its previous gains yesterday as market capitalization fell by ₦119 billion, primarily due to widespread selling of high-value stocks.

The All-Share Index (ASI) declined by 189.73 points (0.18%) to close at 104,187.00 points, while market capitalization dropped to ₦65.470 trillion.

This downturn was driven by losses in medium and large capitalized stocks including Unilever Nigeria, PZ Cussons Nigeria, Ecobank Transnational Incorporated (ETI), Guaranty Trust Holding Company (GTCO), and United Bank for Africa (UBA).

Sector performance showed mixed results with banking (-1.6%) and consumer goods (-0.2%) indices declining, while insurance (+2.7%) and oil & gas (+0.5%) indices advanced. The Industrial Goods index remained unchanged.

Despite the general market decline, positive sentiment prevailed with 33 gainers outpacing 23 losers. Top performers included Livestock Feeds and VFD Group, both gaining 10% to close at ₦8.03 and ₦72.60 respectively. Nigerian Exchange Group followed with a 9.86% gain, closing at ₦35.65.

Among the decliners, Learn Africa and Haldane McCall led with 10% losses each, closing at ₦2.97 and ₦5.22 respectively. ETI fell by 9.90% to ₦26.85, while PZ Cussons Nigeria dropped 9.88% to ₦30.10.

Trading volume decreased by 18.23% to 376.617 million units valued at ₦11.888 billion across 11,576 deals. GTCO dominated trading activity with 62.882 million shares worth ₦4.095 billion, followed by Access Holdings with 51.378 million shares valued at ₦1.059 billion.​​​​​​​​​​​​​​​​

May 02, 2025

Dangote says he’s comfortable with Trump tariffs on urea exports

Nigerian billionaire Aliko Dangote said on Thursday he was "comfortable" with the impact President Donald…
May 01, 2025

Appeal Court upholds conviction of professor who rigged election for Akpabio amid public outrage

The Court of Appeal in Calabar has upheld the conviction and three-year prison sentence of…
May 02, 2025

4 rules for better conversations: ‘We’re all very hungry to feel understood,’ says Harvard professor

Aditi Shrikant I attended a party recently where the conversation just couldn’t gain momentum. Many…
May 03, 2025

Man accidentally buys his own car after it was stolen a few weeks earlier

An English man unknowingly bought back his own Honda Civic just weeks after it was…
April 29, 2025

At least 26 people killed as 2 vehicles run over bomb planted by Boko Haram…

At least 26 people were killed on Monday when two vehicles detonated an improvised explosive…
May 03, 2025

Here’s the latest as Israel-Hamas war enters Day 575

Iran-backed Yemeni Houthis launch two missiles towards Israel Israel intercepted a second missile fired from…
May 03, 2025

AI is running the classroom at this school, and students say 'it's awesome'

At a time when many American students are struggling to keep up, a private school…
January 08, 2025

NFF appoints new Super Eagles head coach

The Nigeria Football Federation (NFF) has appointed Éric Sékou Chelle as the new Head Coach…

NEWSSCROLL TEAM: 'Sina Kawonise: Publisher/Editor-in-Chief; Afolabi Ajibola: IT Manager;
Contact Us: [email protected] Tel/WhatsApp: +234 811 395 4049

Copyright © 2015 - 2025 NewsScroll. All rights reserved.