The Nigerian Exchange Traded Funds (ETFs) market displayed a mixed bag of investor sentiment on Tuesday, with some instruments rising while others plummeted. The popular commodity-backed ETF, NEWGOLD, emerged the most traded by value, recording a total turnover of ₦2.1 million across 11 trades.
NEWGOLD, which tracks the price of gold in international markets, opened at ₦47,702 and rose to a high of ₦52,750 before settling at ₦48,189.01, up ₦487.01 from the previous session. The instrument continues to attract attention from investors seeking inflation hedges amidst persistent naira volatility and rising geopolitical uncertainty.
MERGROWTH ETF, which tracks growth-oriented equities, also had a strong performance. It opened trading at ₦370 and surged to an intra-day high of ₦405.00, and closed at the same value. This represented a gain of ₦35 and was supported by two trades totaling ₦52,710 in value. Market analysts attributed the gain to a renewed appetite for equities with strong upside potential in the technology and consumer segments.
On the downside, VSPBONDETF, which reflects the performance of selected fixed-income instruments, suffered the steepest drop. The ETF fell from its opening price of ₦250 to close at ₦207.00, shedding ₦43, despite trading just 8 units in 3 deals worth ₦1,957.00. The decline was attributed to portfolio rebalancing as investors rotated funds into riskier assets following improved market liquidity.
Top Gainer
ETF
Gain
Percentage Gain
MERGROWTH
₦405.00
₦35.00
+9.5%
NEWGOLD
₦48,189.01
₦487.01
+1.0%
VSPBONDETF
₦207.00
₦43.00
-17.2%
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