The Nigerian Exchange Limited (NGX) recorded a N202 billion loss on Friday, April 25, 2025, ending a three-day bullish streak, primarily driven by a significant decline in Dangote Cement and other stocks. The market capitalization fell by 0.3%, dropping to N66.465 trillion from N66.667 trillion on Thursday, while the All-Share Index (ASI) decreased by 321.65 points, or 0.3%, closing at 105,752.61, down from 106,074.26, according to Daily Post and The Star.
The downturn was largely attributed to a 10% drop in Dangote Cement’s share price, closing at N432.00 per share from N480.00, contributing significantly to the market’s losses. Other notable decliners included Regency Alliance Insurance (-8.06%, closing at N0.57), VFD Group (-7.57%, N17.10), CHAMS (-7.27%, N2.04), and Sovereign Trust Insurance (-6.12%, N0.92). Despite the overall market dip, the market breadth remained positive, with 41 gainers outnumbering 15 losers, reflecting resilient investor sentiment.
Leading the gainers, Ikeja Hotel surged by 10%, closing at N12.10 per share, followed by International Breweries (+10%, N7.70) and Legend Internet Plc (+10%, N6.82). Vitafoam rose by 9.93% to N44.85, and Cadbury gained 9.92% to N26.60, showcasing strength in consumer goods and hospitality sectors. Trading activity was robust, with investors exchanging 428.08 million shares valued at N20.174 billion across 14,284 transactions, a marked increase from Thursday’s 328.26 million shares worth N10.370 billion in 12,142 deals.
Guaranty Trust Holding Company (GTCO) topped the activity chart, trading 60.735 million shares valued at N3.807 billion, followed by Fidelity Bank (41.407 million shares, N829 million) and Access Corporation (40.556 million shares, N968.26 million). MTN Nigeria traded 32.96 million shares worth N8.240 billion, and Zenith Bank moved 22.93 million shares valued at N1.054 billion, indicating strong interest in banking and telecom stocks.
Dangote Cement’s decline aligns with its reported Q1 2025 performance, which showed a 4.3% drop in Nigerian cement volumes compared to Q1 2024, despite higher pricing, as noted in X posts by @NagosBigBoi and @Rufyb. The company’s market capitalization, still a dominant 12.2% of the NGX’s total, fell to approximately N7.36 trillion after the 10% drop. This follows earlier volatility, with a N907 billion loss in October 2024 and a N1.11 trillion market-wide drop in July 2024, both linked to Dangote Cement’s performance.
Despite the day’s losses, the NGX has shown resilience in 2025, with a year-to-date ASI gain of 1.53% as of January, driven by banking sector growth, though industrial goods, including Dangote Cement, fell 8.52% year-to-date by January 31. Analysts attribute Friday’s dip to profit-taking after recent gains, with @TheAnalystNG noting positive market breadth at 0.39x, suggesting underlying optimism. Investors are closely watching Dangote Cement, which declared a N30 per share dividend in 2024, totaling N502.6 billion, nearly matching its N503.25 billion profit after tax, as highlighted by @olumidecapital.
The NGX’s mixed performance reflects Nigeria’s broader economic challenges, including 23.18% inflation and a 27.5% interest rate in March 2025, which may influence investor caution. As the market navigates volatility, the positive breadth and high trading volumes signal opportunities for recovery, particularly in sectors like banking and consumer goods.
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