The Nigerian equity market reversed its previous gains on Tuesday, February 27, 2025, as investor sentiment weakened, leading to a N77 billion loss. The market capitalization of the Nigerian Exchange Limited (NGX) dropped to N67.02 trillion, down from N67.1 trillion recorded in the previous trading session, reflecting a 0.11% decline.
Similarly, the All-Share Index (ASI) fell by 123.53 points to close at 107,675.46, compared to 107,798.99 in the last session. The downturn was driven by sell-offs in key stocks, including Fidson Healthcare, Ecobank Transnational Incorporated, Guinea Insurance, and Prestige Assurance.
Trading Activity and Market Performance
Despite the overall decline, trading activity showed significant improvement. A total of 423.42 million shares valued at N9.57 billion were exchanged in 11,112 deals. This represented a 72% increase in volume, a 14% rise in turnover, and a 10% improvement in the number of deals compared to the previous trading day.
Market breadth remained positive, with 29 gainers outpacing 23 losers. Oando Plc and PZ Cussons Nigeria led the gainers’ chart, each recording a 10% appreciation to close at N52.80 and N32.45 per share, respectively. Other top gainers included Honeywell Flour Mill (+9.96%), Caverton Offshore Support Group (+9.8%), and Livestock Feeds (+9.35%).
On the losers’ side, Fidson Healthcare topped the chart with a 9.6% decline to close at N17.90 per share. It was followed by Ecobank Transnational (-9.51%), Guinea Insurance (-8.33%), and Prestige Assurance (-7.5%).
Sectoral Performance
Sectoral indices showed mixed performance. The Oil and Gas Index recorded a 0.88% gain, supported by strong performances in the sector. However, the Industrial Index fell by 0.43%, while the Premium Index and Consumer Goods Index also closed lower, contributing to the overall market decline.
Top Traded Stocks
FCMB Group led the activity chart with the highest volume of 102 million shares traded. Zenith Bank followed with 33.3 million shares, while Access Holdings and Jaiz Bank recorded 31.2 million and 24.4 million shares traded, respectively.
Market Recovery on Wednesday
In a related development, the Nigerian Exchange rebounded on Wednesday, February 28, 2025, recording a market capitalization gain of N11 billion. This recovery was attributed to renewed buying interest in select stocks, signaling a potential shift in investor sentiment.
Key Takeaways
– The Nigerian equity market lost N77 billion on Tuesday, with the ASI dropping by 123.53 points.
– Trading activity improved significantly, with a 72% increase in volume and a 14% rise in turnover.
– Oando Plc and PZ Cussons Nigeria led the gainers, while Fidson Healthcare and Ecobank Transnational topped the losers’ chart.
– The Oil and Gas Index gained 0.88%, but the Industrial, Premium, and Consumer Goods Indices closed lower.
– The market rebounded on Wednesday, gaining N11 billion as investors showed renewed interest.
The recent volatility in the Nigerian equity market underscores the impact of shifting investor sentiment and sectoral performance. Analysts will be closely monitoring market trends in the coming days to assess whether the recovery can be sustained.
