NEWS
NGX Sheds N103 Billion as ASI Extends Losses
NGX Sheds N103 Billion as ASI Extends Losses
Market capitalisation declined by N103 billion to N159.048 trillion, while the All-Share Index fell to 244,956.94.
Market breadth was negative, with 16 gainers against 22 decliners.
Avacap led the gainers, advancing by 9.85 percent, while Thomas Wyatt topped the decliners, shedding 10.00 percent.
October 22, () – The Nigerian equities market extended its losses on Thursday, as market capitalisation declined by N103 billion to close at N159.048 trillion from an opening value of N159.151 trillion.
Similarly, the All-Share Index (ASI) fell by 159.55 points, opening at 245,116.49 and closing at 244,956.94, representing a 0.07 percent decline.
Market breadth remained negative, with 16 gainers against 22 decliners, indicating that selling pressure continued to outweigh buying interest.
Top Gainers
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Avacap led the gainers’ chart, appreciating by 9.85 percent (N6.60 to N7.25),
Followed by PZ Cussons Nigeria, which gained 8.58 percent (N63.50 to N68.95).
Tantalizer rose by 5.85 percent (N3.76 to N3.98).
International Energy Insurance advanced by 5.42 percent (N2.03 to N2.14).
VFD Group gained 3.59 percent (N12.55 to N13.00)
Top Decliners
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Thomas Wyatt led the decliners, shedding 10.00 percent (N2.80 to N2.52).
Followed by Austin Laz, which fell by 8.81 percent (N3.18 to N2.90).
NSL Technologies declined by 6.85 percent (N0.73 to N0.68).
UPDC lost 6.49 percent (N3.85 to N3.60).
Cornerstone Insurance shed 6.12 percent (N4.90 to N4.60).
Meanwhile, First HoldCo, HBM Nigeria, Ellah Lakes, Custodian Investment and Julius Berger, among others, closed flat.
The market’s continued decline reflects persistent weakness, although the latest drop in the benchmark index was relatively modest.
The negative market breadth suggests that selling pressure remained widespread, with decliners outnumbering gainers.
Investors will likely watch for signs of renewed buying interest in the next session, particularly in major stocks, to determine whether the market can stabilise.
Continued weakness across declining equities could keep the benchmark under pressure, while improved market breadth may support a recovery.
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