• Friday, January 24, 2025
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NGX erases 2025 gains as investors sell Dangote Cement, Transcorp Power, others

NGX-ASI furthers rally by 1.25% as investors buy MTNN, Honeywell, others

…market sheds additional N931bn

Nigeria’s equities market has erased the gains seen since this year, following further decline on Wednesday by heavyweight stock like Dangote Cement, Transcorp Power and John Holt.

The stock market lost N931 billion at the close of trading. It closed negatively by 1.47 percent on Wednesday, pushing its year-to-date (YtD) return into the negative region by 0.81 percent. This week, the market has decreased by 3.18 percent.

Dangote Cement decreased from preceding day’s N431 to N387.90, down by N43.10 or 10 percent.

John Holt dropped from N9.41 to N8.47, losing 94 kobo or 9.99 percent while Transcorp Power also dipped from N359.90 to N324, losing N35.90 or 9.97 percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities Market Capitalisation decreased from preceding day’s 103,622.09 points and N63.187 trillion respectively to 102,095.95 points and N62.256 trillion.

Universal Insurance, AIICO, Access Holdings, Nigerian Breweries and Livestock Feeds were actively traded stocks as investors in 12,098 deals exchanged 435,541,755 shares worth N9.442 billion.

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).

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