NEWGOLD ETF Surges Above N107,000 as Safe-Haven Demand Strengthens

The NEWGOLD Exchange Traded Fund (ETF) climbed above the N107,000 mark on Thursday, extending its recent rally as investors continued to increase exposure to defensive assets despite improving sentiment in the broader equity market.

Trading data from the Nigerian Exchange (NGX) showed NEWGOLD advanced from N99,900.00 to N107,999.99, representing a gain of N8,099.99, the largest price increase among the leading exchange-traded funds during the session.

The latest advance comes as investors continue to diversify portfolios by combining exposure to growth-oriented banking stocks with defensive investment instruments that offer protection against periods of market uncertainty.

While the NGX All-Share Index (ASI) closed higher at 239,156.09 points, adding more than N305 billion to equity market capitalisation, demand for NEWGOLD remained resilient, indicating that investors were not abandoning safe-haven assets even as buying interest returned to equities.

The ETF’s performance also outpaced other leading funds listed on the Exchange.

GREENWETF gained N14.90 to close at N759.90, while VETINDETF advanced N10.50 to N119.50.

VSPBONDETF appreciated N4.84 to N215.00, and VETGRIF30 added N1.00 to settle at N107.99.

The broad gains across the ETF segment suggest investor interest extended beyond a single product, reflecting continued demand for diversified investment vehicles alongside conventional equities.

NEWGOLD’s strong performance is particularly noteworthy because it occurred during a session in which banking stocks dominated trading activity.

Large-cap lenders, including Zenith Bank Plc, GTCO Plc, Access Holdings Plc, and First HoldCo Plc, accounted for the bulk of high-value transactions on the Exchange, yet investors simultaneously increased allocations to gold-backed investment products.

The dual demand highlights a balanced investment strategy.

Rather than concentrating solely on equities, investors appear to be spreading capital across multiple asset classes, combining opportunities for capital appreciation with instruments traditionally viewed as stores of value during periods of economic and market uncertainty.

Overall, investors traded 499.96 million shares worth N35.15 billion across 40,323 deals, while equity market capitalisation rose to N154.44 trillion.

Against that backdrop, NEWGOLD’s climb above N107,000 underscores the continued appeal of exchange-traded funds within diversified portfolios and suggests that demand for defensive assets remains intact even as confidence gradually returns to the Nigerian equity market.

The ETF’s latest rally reinforces a trend that has emerged over recent trading sessions, with investors increasingly using listed funds to complement equity investments as they navigate a market characterised by selective buying, sector rotation and evolving risk appetite.