NEWS
NGX Sheds ₦293bn As All-Share Index Declines 0.18 Percent
NGX Sheds ₦293bn As All-Share Index Declines 0.18 Percent
Market capitalisation declined by ₦293 billion to ₦163.531 trillion.
The All-Share Index shed 451.92 points to close at 251,861.24.
Market breadth turned negative, with 29 decliners against 23 gainers, as Okomu Oil Palm led the losers with a 10.00 percent decline.
November 11, () – The Nigerian Exchange Limited (NGX) extended its decline on Wednesday, as market capitalisation fell by ₦293 billion from ₦163.824 trillion at the opening to ₦163.531 trillion at the close of trading.
The All-Share Index (ASI) also shed 451.92 points, representing a 0.18 percent decline from 252,313.16 to 251,861.24 points. The downturn followed Tuesday’s marginal loss, when market capitalisation declined by ₦93 billion, and the benchmark index fell by 0.06 percent.
Market breadth weakened during the session, with 29 equities recording price declines against 23 gainers. This reversed Tuesday’s positive breadth, when 32 stocks appreciated against 21 decliners, indicating that selling pressure had spread to more listed equities.
Top Gainers
UPL advanced by 9.89 percent (₦4.55 to ₦5.00).
Caverton Offshore Support Group gained 8.96 percent (₦3.35 to ₦3.65).
Abbey Mortgage Bank appreciated by 8.66 percent (₦6.35 to ₦6.90).
Champion Breweries rose by 8.56 percent (₦9.35 to ₦10.15).
Ecobank Transnational Incorporated gained 6.93 percent (₦70.00 to ₦74.85).
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Top Decliners
Okomu Oil Palm fell by 10.00 percent (₦1,276.20 to ₦1,148.60).
Enamelware declined by 9.96 percent (₦36.65 to ₦33.00).
NASCON Allied Industries shed 8.99 percent (₦183.50 to ₦167.00).
FTN Cocoa Processors lost 8.36 percent (₦7.42 to ₦6.80).
VFD Group declined by 6.67 percent (₦12.00 to ₦11.20).
Channel
Several equities closed unchanged during the session, including MTN Nigeria Communications, Presco Plc, Custodian Investment Plc, John Holt Plc and Coronation Infrastructure Fund, among others.
The market’s performance reflected continued weakness following the brief recovery recorded on Monday. Since Tuesday, the ASI has declined by 595.50 points, while market capitalisation has fallen by N386 billion, indicating that the market has struggled to sustain the earlier gains.
The unchanged positions of MTN Nigeria Communications, Presco, Custodian Investment and other equities suggested that trading activity remained mixed, even as the broader market came under pressure.
Investors will be watching whether the market can regain positive momentum in subsequent sessions, particularly as the number of declining stocks has increased. A recovery in market breadth alongside gains in the benchmark index would provide a stronger indication that selling pressure is easing.
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