NEWS
NGX Market Report: ASI Slips 0.09 Percent As 24 Stocks Gain
NGX Market Report: ASI Slips 0.09 Percent As 24 Stocks Gain
The NGX All-Share Index declined 0.09 percent to close at 247,513.63 points, while market capitalisation fell to ₦160.708 trillion.
Market breadth improved, with 24 gainers outnumbering 21 decliners.
eTranzact led the gainers, advancing 9.96 percent, while Legend Internet Technologies recorded the steepest decline at 6.85 percent.
October 13, () – The Nigerian Exchange Limited (NGX) closed lower on Tuesday as the All-Share Index (ASI) declined from 247,736.24 points at the opening to 247,513.63 points, representing a loss of 0.09 percent.
Market capitalisation also fell from ₦160.852 trillion to ₦160.708 trillion, shedding ₦144 billion in equity value during the session.
Despite the decline in the benchmark index, market breadth remained positive, with 24 equities recording price appreciation against 21 decliners. The figures indicate that gains across selected stocks were insufficient to offset losses in other equities and prevent the market from closing lower.
Top Five Gainers
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ETRANZACT gained 9.96 percent (rising from ₦13.05 to ₦14.35).
WAPIC advanced 7.83 percent (from ₦2.30 to ₦2.48).
DAARCOMM appreciated 7.25 percent (from ₦1.38 to ₦1.48).
LIVESTOCK rose 6.92 percent (from ₦14.45 to ₦15.45).
CHAMS gained 5.88 percent (moving from ₦3.40 to ₦3.60).
Top Five Decliners
Channel
LEGENDINT shed 6.85 percent (falling from ₦3.65 to ₦3.40).
OMATEK declined 6.43 percent (from ₦1.40 to ₦1.31).
NSLTECH lost 5.71 percent (dropping from ₦0.70 to ₦0.66).
MBENEFIT fell 5.49 percent (from ₦3.28 to ₦3.10).
AIICO declined 4.39 percent (closing at ₦3.92 from ₦4.10).
MTN Nigeria Communications, Dangote Cement, Custodian Investment, John Holt, Champion Breweries and PZ Cussons were among the equities that closed unchanged during the session.
The market recorded a marginal decline on Tuesday despite a higher number of advancing stocks, suggesting that gains in individual equities did not provide enough support to lift the benchmark index.
The improved market breadth could indicate selective buying interest, although the decline in market capitalisation shows that overall equity value still weakened. In the next session, investors will monitor buying activity across major stocks and whether the positive breadth can translate into a recovery in the ASI.
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