Fairness market sheds N166bn amid inflation drop

The Nigerian Inventory Alternate on Tuesday recorded a big dip as buyers misplaced N166bn in market worth, following the drop in Nigeria’s headline inflation to 24.48 per cent in January 2025.

The most recent inflation determine, introduced by the Nationwide Bureau of Statistics, marked a decline from the 34.80 per cent recorded in December 2024, attributed to the rebasing of the Client Value Index.

On the shut of buying and selling, the NGX All-Share Index fell by 266.76 factors, representing a 0.25 per cent decline to settle at 107,670.98. Regardless of this drop, the market posted a one-week acquire of 1.03 per cent, a four-week acquire of 4.4 per cent, and a year-to-date acquire of 4.61 per cent.

The overall market capitalisation of the Nigerian Inventory Alternate stands at N67.2tn.

A complete of 408,719,063 shares have been traded in 14,174 offers, amounting to a turnover of N11.26bn. In comparison with the earlier buying and selling day, at this time’s knowledge displays a 20 per cent decline in buying and selling quantity, a 12 per cent lower in turnover, and a 17 per cent drop within the variety of offers executed.

In complete, 125 NGX-listed equities participated in buying and selling, with 16 gainers and 40 losers.

Consolidated Hallmark Holdings led the gainers with a outstanding 9.76 per cent improve in share value, closing at N3.71 per share. It was adopted by Sunu Assurances Nigeria, which noticed a 9.58 per cent rise to N6.52. Neimeth Worldwide Prescribed drugs additionally recorded an 8.77 per cent acquire, ending at N3.35 per share. Compared, Cornerstone Insurance coverage Firm posted a 7.03 per cent acquire, closing at N3.35.

Then again, the shedding aspect was dominated by The Initiates, which noticed its share value fall by 9.89 per cent, closing at N4.01. Union Dicon Salt adopted with a 9.82 per cent drop to N7.35, whereas UPDC fell by 9.09 per cent, closing at N3.10. Cadbury Nigeria additionally recorded a big loss, dropping 9.06 per cent to shut at N29.10.

By way of buying and selling quantity, Entry Holdings recorded the very best quantity with 54.8 million shares traded, adopted by United Financial institution for Africa with 31.4 million shares. Guinness Nigeria and Fidelity Bank additionally featured as the highest quantity leaders, with 30.3 million and 19.9 million shares traded, respectively.

The market indices mirrored the broader market development, with the Prime 30 Index shedding 0.24 per cent, whereas the Insurance coverage Index bucked the development with a 2.63 per cent acquire. Different indices just like the NGX Most important Board, Industrial, Oil & Gasoline, and Client Items Index additionally recorded declines, with the Oil & Gasoline Index seeing the sharpest drop at -0.24 per cent.

The PidomNigeria reported that the Nigerian fairness market kicked off the week negatively, shedding N72bn in market capitalisation on the shut of buying and selling on Monday.