NGX Plunges: Investors Rattled by Bank Shares Sell-off

Market turmoil

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As the market opens at N55.037 trillion and closes at N54.317 trillion, investors face a 1.31% loss, with the All-Share Index plummeting by 1,317 points to 99,266.02.

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FBN Holdings, GTCO, and Zenith Bank's shares take a hit, triggering a chain reaction of panic selling. Trading volume soars to 396.23 million shares valued at N5.83 billion.

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With 50 losers and only four gainers, market breadth remains grim. Transcorp and UBA emerge as top traders, but the overall sentiment remains bearish.

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Impact Analysis

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Wema Bank, Oando Plc, and others lead the losers' pack, while PZ Cussons, Juli Plc, and AXA Mansard offer glimmers of hope as notable gainers amidst the turmoil.

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NGX Plunges: Investors Rattled by Bank Shares Sell-off

Market turmoil

Sustained selloffs in Tier-1 banks' shares shake NGX, causing a staggering N720 billion loss in market capitalization, marking a 1.13% decline.

As the market opens at N55.037 trillion and closes at N54.317 trillion, investors face a 1.31% loss, with the All-Share Index plummeting by 1,317 points to 99,266.02.

Investor Anxiety

FBN Holdings, GTCO, and Zenith Bank's shares take a hit, triggering a chain reaction of panic selling. Trading volume soars to 396.23 million shares valued at N5.83 billion.

Financial Frenzy

With 50 losers and only four gainers, market breadth remains grim. Transcorp and UBA emerge as top traders, but the overall sentiment remains bearish.

Market Pulse

Impact Analysis

Investors grapple with a Year-to-Date return plunge to 32.76%, reflecting the severity of the market downturn and its implications for long-term investments.

Wema Bank, Oando Plc, and others lead the losers' pack, while PZ Cussons, Juli Plc, and AXA Mansard offer glimmers of hope as notable gainers amidst the turmoil.

Winners & Losers

Swipe up for an in-depth analysis of the NGX decline and its implications for investors.