NGX Market Cap Declines by N48 Billion, Trading Volume Increases by Over 350%

Lagos, March 12, 2025 (NAN) – Trading activities on the Nigerian Exchange Ltd. (NGX) on Wednesday ended on a negative note, with the market capitalisation dropping by N48 billion.

The NGX market capitalisation fell by 0.07%, declining from N66.484 trillion on Tuesday to N66.436 trillion.

The All-Share Index also recorded a 0.07% drop, losing 77.53 points to settle at 106,090.38, compared to 106,167.91 the previous day. The market’s negative performance was largely attributed to declines in the share prices of CONOIL and United Bank for Africa (UBA), among others.

Market breadth closed negative, with 32 losers and 19 gainers. Among the biggest losers, Conoil experienced a 10% decline, closing at N331.20. Berger Paints fell by 9.81% to N18.85 per share, while International Energy Insurance dropped by 9.79% to N1.75. Multiverse Mining lost 9.66%, closing at N7.95, and Regency Assurance decreased by 8.70%, closing at 63k.

On the gainers’ side, Tantaliser led with a 9.79% increase to N3.14 per share, while Secure Electronic Technology surged by 9.68%, closing at 64k. Caverton Offshore Support Group saw a 9.09% rise to N3.00, and FTN Cocoa Processors gained 6.51%, ending at N1.80. Jaiz Bank also saw an increase of 6.04%, closing at N3.51.

A total of 1.499 billion shares worth N10.259 billion were traded in 11,748 transactions, a notable increase from the 324.59 million shares valued at N7.918 billion traded in 12,652 transactions on Tuesday.

Sovereign Trust Insurance led the day’s activity with 989.73 million shares worth N987.48 million. Jaiz Bank followed with 187.35 million shares worth N628.093 million, while Secure Electronic Technology traded 43.51 million shares valued at N28.62 million. Zenith Bank and United Capital Group also recorded substantial transactions, with 22.81 million shares worth N1.085 billion and 18.28 million shares worth N346.42 million, respectively.