{"id":10102,"date":"2026-09-10T07:23:41","date_gmt":"2026-09-10T07:23:41","guid":{"rendered":"https:\/\/ograsset.com\/?p=10102"},"modified":"2026-09-10T07:23:42","modified_gmt":"2026-09-10T07:23:42","slug":"ngx-loses-n1-65tn-as-index-drops-below-242223-points","status":"publish","type":"post","link":"https:\/\/ograsset.com\/index.php\/2026\/09\/10\/ngx-loses-n1-65tn-as-index-drops-below-242223-points\/","title":{"rendered":"NGX loses N1.65tn as index drops below 242,223 points"},"content":{"rendered":"\n
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The Nigerian Exchange Limited closed on a bearish note on Wednesday as selling pressure across major market sectors dragged overall performance downward.<\/p>\n\n\n\n

The benchmark NGX All-Share Index dropped by 1.05 per cent to close at 242,223.10 points, down from Tuesday\u2019s 244,802.11 points. Similarly, total market capitalisation dipped by N1.65tn to settle at N157.05tn.<\/p>\n\n\n\n

Activity on the main board showed equity investors moved 534.3m shares valued at various figures across 46,845 deals. Exchange-Traded Funds generated 912 trades involving 254,371 units, while the debt market segment logged 11 transactions for 73,790 units.<\/p>\n\n\n\n

Markeapital t breadth closed negative, with several heavyweights hitting the maximum daily price loss limit of 10.00 per cent.<\/p>\n\n\n\n

Leading the losers\u2019 table were FTN Cocoa Processors, which dropped to N7.65; Japaul Gold & Ventures, which fell to N2.34; McNichols, which declined to N4.50; and Omatek Ventures, which dropped to N1.35. Other maximum losers included Secure Electronic Technology (N0.63), Zichis Agro Allied Industries (N15.39), and BUA Cement (N278.10).<\/p>\n\n\n\n

Cadbury Nigeria plunged 9.94 per cent to close at N58.45, International Energy Insurance fell 9.88 per cent to N2.28, and Tripple Gee & Company shed 9.79 per cent to end at N2.58. Pullbacks were also recorded in Nigerian Breweries, Nestle Nigeria, and Oando.<\/p>\n\n\n\n

On the flip side, Champion Breweries topped the gainers\u2019 chart after advancing 9.90 per cent to close at N11.10. VFD Group followed closely with a 9.52 per cent appreciation to reach N11.50 per share. UPDC gained 5.88 per cent to land at N3.60, Ikeja Hotel climbed 4.58 per cent to finish at N44.50, Cutix rose 3.06 per cent to N2.36, Sterling Financial Holdings Company added 2.67 per cent to reach N7.70, and Zenith Bank picked up 1.64 per cent to end at N124.00.<\/p>\n\n\n\n

Modest advances were also recorded by The Initiates, Nigerian Exchange Group, United Bank for Africa, and United Capital.<\/p>\n\n\n\n

The financial services sector remained the primary driver of trading volume. In the Premium Board category, the sector generated 8,545 trades with 68.48m shares exchanged. Zenith Bank led the board with over 22.1m shares traded, followed by UBA with over 13.4m shares.<\/p>\n\n\n\n

On the Main Board, Sterling Financial Holdings drove market volume, exchanging 78.1m shares across 337 trades. Guaranty Trust Holding Company and Access Holdings also posted high transaction volumes, trading 17.6m and 25.1m shares, respectively.<\/p>\n\n\n\n

Sectoral performance was predominantly negative across tracking benchmarks. The NGX Main-Board Index slipped from 10,922.76 points to 10,728.71 points, while the NGX 30 Index contracted to 8,914.02 points. Weakness in consumer goods pushed the NGX Consumer Goods Index down to 4,051.24 points, while the NGX Industrial Index dropped to 9,999.13 points. Minor pullbacks were recorded in the Banking Index (2,493.73), Insurance Index (1,043.11), and Oil and Gas Index (5,761.75).<\/p>\n\n\n\n

The ETF segment saw mixed performance, led by Greenwich Alpha ETF, which surged 8.28 per cent to N757.85. The Vetiva Consumer Goods ETF gained a marginal 0.02 per cent to N41.73. Conversely, the Stanbic IBTC ETF 30 plummeted 10.00 per cent to N1,140.89, while the Vetiva S&P Nigeria Sovereign Bond ETF fell 9.97 per cent to N198.05. The SIAML Pension ETF 40 and NewGold ETF shed 6.11 per cent and 3.17 per cent, respectively.<\/p>\n\n\n\n

Fixed-income activity was restricted to non-interest instruments on the Non-Interest Finance Board, as standard FGN and corporate bonds saw no trading volume. Non-interest Sukuk offerings logged all 11 trades, highlighted by the 15.75 per cent  FGN OCT 2033 Sukuk, which gained 1.99 per cent to close at N102.50 on 10,800 units.<\/p>\n\n\n\n

On the Growth Board, activity was led by The Initiates, which added 1.51 per cent to close at N23.50 on 7.28 million shares, while McNichols and Zichis Agro Allied Industries dropped 10 per cent each. Real Estate Investment Trusts and Closed-End Funds recorded 438 trades, largely driven by UPDC REIT, which sank 9.75 per cent to N12.50 across 2.8 million shares.<\/p>\n\n\n\n

Market analysts attribute the persistent caution to macroeconomic pressures as portfolio managers continue rebalancing between equities and fixed-income assets ahead of key policy signals, even as the Central Bank of Nigeria maintains its Monetary Policy Rate at 26.50 per cent.<\/p>\n\n\n\n

https:\/\/punchng.com\/ngx-loses-n1-65tn-as-index-drops-below-242223-points\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Nigerian Exchange Limited closed on a bearish note on Wednesday as selling pressure across major market sectors dragged overall performance downward. The benchmark NGX All-Share Index dropped by 1.05 per cent to close at 242,223.10 points, down from Tuesday\u2019s 244,802.11 points. Similarly, total market capitalisation dipped by N1.65tn to settle at N157.05tn. Activity on… <\/p>\n

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