NEWS
NGX Market Cap Falls N1.33tn as ASI Sheds 0.82 Percent
NGX Market Cap Falls N1.33tn as ASI Sheds 0.82 Percent
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Market capitalisation declined by N1.334 trillion to N161.051 trillion.
ASI fell by 2,054.25 points to 248,042.50.
Market breadth weakened as 32 stocks declined against 26 gainers.
Channel
October 08, () – The Nigerian Exchange Limited (NGX) closed Thursday’s trading session on a bearish note, with market capitalisation declining by N1.334 trillion from N162.385 trillion at the opening to N161.051 trillion at the close.
The All-Share Index (ASI) also fell by 2,054.25 points, opening at 250,096.75 and closing at 248,042.50, representing a 0.82 percent decline.
Market breadth was negative, with 32 equities recording price declines against 26 gainers.
On the gainers’ chart:
ETRANZACT surged 10.00 percent (N11.00 to N12.10).
LIVESTOCK rallied 9.09 percent (N11.00 to N12.00).
GUINEAINS soared 8.97 percent (N0.78 to N0.85).
LEARNAFRCA jumped 8.93 percent (N8.40 to N9.15).
MULTITREX climbed 7.69 percent (N0.39 to N0.42).
On the decliners’ side:
ETERNA plunged 10.00 percent (N46.00 to N41.40).
ARADEL tumbled 10.00 percent (N1,530.00 to N1,377.00).
CUTIX shed 9.02 percent (N2.44 to N2.22).
CMFC sank 8.98 percent (N4.01 to N3.65).
NPFMCRFBK slumped 8.70 percent (N4.60 to N4.20).
Several blue-chip and other equities closed unchanged during the session, including Dangote Cement, Seplat Energy, John Holt Plc, Julius Berger and Nestle Nigeria, among others.
The bearish momentum could persist in the near term as investors reassess positions following the sharp decline in market capitalisation and the negative market breadth.
However, bargain-hunting could provide some support for fundamentally strong stocks if selling pressure eases.
Investors are likely to remain selective, with sentiment influenced by corporate earnings, liquidity conditions and broader macroeconomic developments.
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