NGX LOSES N425.73BN AS INVESTORS TAKE PROFITS

The Nigerian Exchange Limited closed the final trading session of September on a negative note, with investors’ wealth falling by N425.73bn as profit-taking affected the equities market.

The decline came as investors sold some recently appreciated stocks at the end of the month, pushing the market’s key benchmark lower.

The All-Share Index fell by 0.28 per cent during the session, reflecting the weaker performance across the market.

The decline reduced the overall market capitalisation, resulting in the loss of N425.73bn in investor wealth.

The session marked the end of September trading, with market participants adjusting their portfolios ahead of the new month.

Profit-taking occurs when investors sell shares after prices have risen, often to lock in gains. Such activity can put downward pressure on market prices when selling becomes widespread.

Despite the month-end decline, the market had recorded periods of stronger performance during September, including a rise in market capitalisation earlier in the month.

Investors are expected to continue monitoring corporate earnings, monetary policy, liquidity conditions and broader economic developments as trading resumes in October.

The latest decline highlights the sensitivity of Nigerian equities to investor sentiment and portfolio adjustments.