NEWGOLD Climbs Nearly N2,700 While ETF Buying Remains Selective

The exchange-traded fund (ETF) market delivered a mixed performance on the Nigerian Exchange (NGX) on Monday as NEWGOLD ETF recorded the strongest gain, while several other funds closed lower, highlighting selective investor positioning within the segment.

NEWGOLD ETF advanced by N2,698.06, rising from N93,002.01 to N95,700.07, making it the day’s best-performing ETF as investors continued to seek exposure to the precious metals-backed fund.

The gains were not uniform across the ETF market.

VSPBONDETF also closed higher, appreciating N9.00 to N224.00, reflecting continued interest in fixed-income investment products.

ETF Performance

While NEWGOLD and VSPBONDETF attracted buying interest, other ETFs came under mild selling pressure.

VETBANK, VETGRIF30 and MERVALUE all closed lower, indicating that investors were becoming increasingly selective rather than pursuing broad-based exposure across the ETF market.

The mixed performance contrasted with the broader equity market, where the NGX All-Share Index (ASI) gained 0.29 percent to close at 247,699.78 points, while equity market capitalisation increased to N160.600 trillion as gains in heavyweight stocks lifted the benchmark index.

Monday’s ETF performance suggests investors remain interested in diversified investment vehicles, particularly those offering exposure to gold and fixed-income assets.

However, the divergence in price movements across listed funds indicates buying activity is becoming more targeted, with capital flowing into selected ETFs rather than the segment as a whole.