NEWS
ASI Slips 0.16 Percent as Decliners Rise to 34
ASI Slips 0.16 Percent as Decliners Rise to 34
NGX market capitalisation sheds N256 billion to close at N162.495 trillion.
ASI falls 0.16 percent to 250,273.50 points.
Market breadth weakens as 34 equities decline against 26 gainers.
Channel
October 06, () – The Nigerian Exchange Limited (NGX) extended its negative run on Tuesday, as increased selling pressure across several equities dragged the benchmark index and market capitalisation lower for a second consecutive session.
The market capitalisation opened at N162.751 trillion and closed at N162.495 trillion, representing a decline of N256 billion during the session.
Similarly, the NGX All-Share Index (ASI) opened at 250,667.86 points and closed at 250,273.50 points, shedding 394.36 points or 0.16 percent.
Market breadth weakened further, with 34 equities declining against 26 gainers, compared with Monday’s 29 decliners and 24 gainers.
Tuesday’s session was characterised by broad-based weakness across several counters, as losses in key equities outweighed strong advances recorded by selected stocks.
CMFC recorded the steepest decline, plunging 9.88 percent from N4.05 to N3.65. The stock was followed by ABC Transport Plc, which fell 9.70 percent from N6.70 to N6.05.
On the gainers’ side, Tripple Gee and Company Plc recorded the strongest performance, advancing 9.77 percent from N2.56 to N2.81.
Livestock Feeds Plc followed with a 9.74 percent gain, climbing from N9.75 to N10.70.
Top Gainers
TRIPPLEG advanced by 9.77 percent, rising from N2.56 to N2.81.
LIVESTOCK rallied by 9.74 percent, climbing from N9.75 to N10.70.
NPFMCRFBK surged by 9.52 percent, advancing from N4.20 to N4.60.
SOVRENINS gained 8.23 percent, rising from N2.31 to N2.50.
WAPIC climbed 7.69 percent, moving from N2.21 to N2.38.
Top Decliners
CMFC plunged by 9.88 percent, falling from N4.05 to N3.65.
ABCTRANS tumbled 9.70 percent, declining from N6.70 to N6.05.
CWG shed 7.23 percent, dropping from N20.75 to N19.25.
ZICHIS fell 6.58 percent, moving from N18.25 to N17.05.
NEIMETH slipped 6.57 percent, declining from N8.10 to N7.60.
Meanwhile, Dangote Cement, Seplat Energy, Presco Plc, UAC of Nigeria Plc, Champion Breweries Plc, Cadbury Nigeria Plc and Nestle Nigeria Plc, among others, closed flat during the session.
The market’s continued decline on Tuesday reflected persistent weakness in investor sentiment, with the number of decliners widening to 34. Although selected equities recorded strong gains, the advances were insufficient to offset the losses across several counters, leaving both the ASI and market capitalisation lower at the close.