NGX Extends Losses as Sell Pressure Drags Market Lower

June 16, () — Nigeria’s equities market closed lower on Tuesday as sustained sell pressure across key counters weighed on investor sentiment, dragging both the benchmark index and market capitalisation into negative territory.

The market capitalisation declined by N782 billion to close at N155.203 trillion, down from N155.985 trillion at the start of trading.

Similarly, the All-Share Index (ASI) shed 1,219.93 points to close at 241,984.80, compared to its opening level of 243,204.73.

Market breadth remained negative, with 20 gainers against 37 losers, reflecting cautious trading and continued profit-taking across several sectors.

Top 5 Gainers

1. CONOIL gained 9.97 percent (to close at N213.00 from N194.00).

2. PRESTIGE advanced 9.97 percent (to close at N1.57 from N1.43).

3. NEIMETH rose 9.74 percent (to close at N8.45 from N7.70).

4. ETRANZACT appreciated 9.40 percent (to close at N16.30 from N14.90).

5. CORNERST climbed 9.09 percent (to close at N5.40 from N4.95).

Top 5 Decliners

1. INTENEGINS lost 10.00 percent (to close at N5.76 from N6.40).

2. VITAFOAM fell 10.00 percent (to close at N189.00 from N210.00).

3. AUSTINLAZ declined 9.93 percent (to close at N3.90 from N4.33).

4. SUNUASSUR shed 9.82 percent (to close at N3.58 from N3.97).

5. SOVRENINS dropped 8.37 percent (to close at N2.30 from N2.51).

Meanwhile, heavyweight counters including Seplat Energy, Dangote Cement, Custodian Investment Plc, Julius Berger, Nigerian Breweries Plc, and Nestlé Nigeria Plc closed flat, helping to moderate the market’s overall decline.

The negative market breadth underscores prevailing bearish sentiment, as the number of declining stocks significantly outweighs advancing equities.

The losses suggest investors remained cautious, with profit-taking activities dominating trading despite gains in a handful of counters.