NGX Extends Losing Streak as Investors Lose ₦878bn Amid Broad Selloff

July 2 () — The Nigerian Exchange (NGX) extended its bearish run on Thursday as sustained profit-taking and weak investor sentiment dragged key market indicators lower, wiping ₦878 billion off investors’ wealth.

Market capitalisation declined by 0.61 percent to ₦143.946 trillion, from ₦144.824 trillion recorded at Wednesday’s close, while the benchmark All-Share Index (ASI) shed 1,368.10 points, or 0.61 percent, to close at 224,321.97, compared with 225,690.07 in the previous session.

Investor sentiment remained firmly negative, with market breadth closing at 12 gainers against 36 losers, reflecting continued selling pressure across several counters despite pockets of bargain hunting in selected stocks.

Top five gainers

* AUSTINLAZ surged 10.00 percent, (advancing from ₦3.30 to ₦3.63).
* LEARNAFRCA also gained 10.00 percent, (rising from ₦9.00 to ₦9.90).
* DAARCOMM climbed 9.49 percent, (appreciating from ₦1.37 to ₦1.50).
* UPDC added 9.09 percent, (moving up from ₦3.30 to ₦3.60).
* CAVERTON increased 8.51 percent, (closing higher from ₦4.70 to ₦5.10).

Top five losers

* GUINEANS topped the losers’ chart, plunging 10.00 percent (from ₦1.00 to ₦0.90).
* CMFC shed 9.87 percent, (declining from ₦3.95 to ₦3.56).
* INTENEGINS dropped 9.84 percent, (falling from ₦5.79 to ₦5.22).
* MCNICHOLS lost 9.80 percent, (retreating from ₦7.65 to ₦6.90).
* TIP slipped 9.79 percent, (easing from ₦26.05 to ₦23.50).

Meanwhile, Julius Berger Nigeria Plc, Dangote Cement Plc, Champion Breweries Plc, Cadbury Nigeria Plc, Vitafoam Nigeria Plc, Unilever Nigeria Plc, among others, closed unchanged during the session.