Equity markets dips by 0.41%
Agency Report
The domestic equity market on Monday continued with negative trajectory, shedding N363 billion as profit taking and selloff persisted in the first trading of the month of September.
Market capitalisation of listed declined 0.41 percent to N88.406 trillion from N88.769 trillion reported the previous day.
The NGX All Share also depreciated by 573.30 basis points to 139722.19 points from 140295.49 points traded on Friday.
Trading for the day showed that losses recorded in the shares of Oando Plc, Zenith, Wapco, UBA, UPDC AIICO Insurance, Fidelity Bank and among others helped to drag market down bringing year to date return to 35.75 per cent as the market breath remain negative with 33 decliners against 15 gainers.
Volume of trades declined by 27.165 million, representing 6.25 per cent as investors traded 407.975 million against 435.140 million reported previously, value of transactions went up by 1.01 per cent to settle at N14.776 billion.
An analysis of the investment showed that Sovereign Trust Insurance led gainers table with 10 per cent to close at N2.86 per unit, SCOA Plc followed with a gain of 9.83 per cent, Cornerstone Insurance added 7.98 per cent to close at N6.90 per share, Guinea Insurance added 7.75 per cent to close at N1.53 per unit, NSLTech increased by 4.71 per cent to close at N0.89 per unit.
On the contrary, Eterna Plc, EllahLakes and Veritas Kapital topped losers’ chart, dropping by 10 per cent each to close at N34.20, N12.19 and N1.89 per unit respectively, Cham Plc trailed with a loss of 9.56 per cent to close at N2.65 per unit, Cuttix Plc down by 7.71 per cent to close at N3.23 per unit.
Trading in the shares of FCMB group led market activities with 55.842 million shares valued at N601.688 million, Access Holdings followed with account of 31.945 million shares valued at N843.018 million, Fidelity Bank exchanged 26.153 million shares worth N547.922 million, NSLTech traded 22.358 million shares worth N19.517 million while AIICO Insurance sold a total.of 17.724 million shares cost N70.470 million.
Meanwhile, The Nigerian Exchange Limited (NGX) has suspended trading in the shares of Regency Alliance Insurance Plc, International Energy Insurance Plc, and Universal Insurance Plc, effective Monday, 1 September 2025.
According to the Exchange, the suspension follows the companies’ failure to file their Audited Financial Statements for the year ended 31 December 2024, as required under Rule 3.1 of the Rules for Filing of Accounts and Treatment of Default Filing (Default Filing Rules).
The rule stipulates that where an issuer fails to submit its accounts by the expiration of the Cure Period, the Exchange shall: Issue a Second Filing Deficiency Notification within two, business days, suspend trading in the issuer’s securities, and Notify the Securities and Exchange Commission (SEC) and the market within twenty-four (24) hours.
NGX noted that trading in the affected securities will remain suspended until the companies submit their outstanding financial statements in compliance with the Rules.
