Nigerian stock market experiences volatility with N516bn loss and N411bn gain

The Nigerian Exchange (NGX) has seen significant fluctuations in market capitalization and investor value. In one session, the All-Share Index (ASI) fell by 32 basis points to close at 245,116.49, as sell pressure on banking and insurance stocks like Zenith Bank, Access Holdings, and FirstHoldco resulted in a loss of approximately N516 billion in equity portfolio value.

However, the market subsequently rebounded in another session, with the ASI rising by 0.26 per cent to 245,911.13. This recovery added N411 billion to the market capitalization, bringing it to N159.67 trillion. The upturn was driven by buying interest in large and medium-capitalized stocks, including HBM Nigeria Plc, NASCON Allied Industries, and Unilever Nigeria.

During the periods of volatility, Zenith Bank remained a highly active stock, frequently appearing at the top of both volume and value charts. Market breadth has fluctuated between sessions, with varying numbers of advancers and decliners impacting the overall sectoral performance.