NEWS
Nigerian Equities Market Closes Higher Despite Broad-Based Sell-Off
Nigerian Equities Market Closes Higher Despite Broad-Based Sell-Off
-
Market value rises: Market capitalisationgained N1.042 trillion to close at N160.600 trillion, while the ASI rose 0.29 percent to 247,699.78.
-
Breadth turns sharply negative: 43 stocks declined against just 12 gainers, indicating significant selling pressure despite the market’s positive close.
-
Zichis leads gainers: The stock advanced 9.97 percent, while Omatek and Caverton recorded the steepest losses at 10.00 percent each.
September 07, () — The Nigerian equities market closed Monday’s session higher, despite broad-based selling pressure that saw significantly more stocks decline than gain.
Market capitalisation rose from N159.558 trillion at the opening to N160.600 trillion at the close, representing a gain of N1.042 trillion.
The All-Share Index (ASI) also advanced, opening at 246,992.44 and closing at 247,699.78, representing a gain of 707.34 points or 0.29 percent.
However, market breadth remained sharply negative, with 12 gainers against 43 decliners, reflecting widespread losses across the market despite the rise in the benchmark index.
Top Gainers
- ZICHIS gained 9.97 percent (N16.55 to N18.20).
- ARADEL advanced 5.38 percent (N1,489.80 to N1,570.00).
- NSLTECH rose 4.29 percent (N0.70 to N0.73).
- INTBREW appreciated 3.02 percent (N9.95 to N10.25).
- MTNN climbed 2.45 percent (N813.00 to N832.90
Top Decliners
- OMATEK fell by 10.00 percent (N1.70 to N1.53).
- CAVERTON declined by 10.00 percent (N4.50 to N4.05).
- CMFC shed 9.85 percent (N2.64 to N2.38).
- SUNUASSUR dropped by 9.42 percent (N3.29 to N2.98).
- DAARCOMM slipped 9.41 percent (N1.70 to N1.54).
Dangote Cement, FirstHoldCo, Seplat Energy Plc, UAC of Nigeria Plc, Golden Guinea Breweries and Nestle Nigeria were among the stocks that closed flat for the session.
Overall, the session reflected a mixed market picture, with the headline index and market capitalisation advancing even as widespread declines pointed to considerable selling pressure across individual stocks.
