Equities dip as market value falls to N160tn on NGX

On Monday, equities trading on the Nigerian Exchange Limited concluded on a downward trajectory as the Central Bank of Nigeria maintained the benchmark Monetary Policy Rate at 23.00 percent. The benchmark All Shares Index closed the session at 247,736.24 points, marking a decline from its earlier high of 250,273.50. Throughout the week, market indicators moved within a range of 247,736.24 to 250,273.50, resulting in an average index point of 248,902.51.

A total of 52,891 trades were executed, involving 405,359,288 securities exchanged across all active boards.

Sector indices also experienced a downward trend, with the NGX Main-Board Index falling to 10,751.25, the NGX 30 Index declining to 9,114.65, and the NGX Banking Index decreasing to 2,567.52. Individual shares reflecting divergent transaction volumes and price movements, with MTN Nigeria Communications Plc trading at N844.00 for a volume of 1,769,623 shares, and Dangote Cement Plc exchanging at N1,066.70 per share.

Financial services counters, including Zenith Bank Plc and Access Holdings Plc, continued to attract significant market liquidity.

The NGX Pension Index closed at 12,892.22, while the NGX Insurance Index adjusted to 1,082.56, and the NGX Consumer Goods Index managed a slight increase at 4,035.46 points. The NGX Industrial Index closed at 10,442.78, and the NGX Oil and Gas Index concluded the session at 5,993.51. Dangote Refinery's IPO attracted fourfold subscriptions, and the offer was extended.