Nigerian Exchange falls for eighth straight session as market cap drops ₦440bn

The Nigerian Exchange (NGX) All-Share Index declined by 0.30% to 240,037.80 points, marking the eighth consecutive trading session of losses. This downward trend resulted in a market capitalization decrease of approximately ₦440.33 billion, bringing the total to ₦154.98 trillion.

Sectoral losses were driven primarily by the oil and gas, insurance, and banking sectors, which fell by 2.49%, 0.79%, and 0.41% respectively. Notable decliners included Aradel Holdings, Oando, and Zichis Agro-Allied Industries. In the insurance sector, International Energy Insurance, Wapic, and Fortis Global Insurance saw significant price drops.

Despite the index decline, trading activity saw a sharp increase. Total volume rose by over 140% to 2.87 billion shares, with a transaction value of ₦33.99 billion across 34,725 deals. Fortis Global Insurance led volume activity, while Haldane McCall was among the top gainers.