NGX Slips 0.03 Percent As NASCON, Beta Glass Lead Sell-Off

• The NGX All-Share Index slipped 63.46 points to 246,019.17, while market capitalisation edged down by ₦41 billion to ₦158.914 trillion, as the market closed almost flat despite mixed trading across equities.

• Market breadth remained positive, with 33 gainers against 29 decliners. However, heavy losses in large stocks including NASCON and Beta Glass limited the overall index performance.

• Oando led the gainers with a 9.43 percent rise, while NASCON topped the decliners with a 10 percent decline.

September 02, () — The Nigerian Exchange closed Wednesday’s session marginally lower, with the All-Share Index declining 63.46 points from 246,082.63 at the open to 246,019.17 at the close.

Market capitalisation also fell slightly from ₦158.955 trillion to ₦158.914 trillion, representing a decline of about ₦41 billion.

The session produced a mixed performance as investors continued to reposition across stocks, with 33 gainers against 29 decliners.

The relatively narrow movement in the benchmark index suggests that gains in selected equities were largely offset by sell-offs in some major stocks.

On The Gainers’ Chart

• Tripple Gee and Company led with a 10 percent increase (rising from ₦2.60 to ₦2.86).
• Sovereign Trust Insurance followed with a 9.71 percent gain (moving from ₦2.06 to ₦2.26).
• Oando advanced 9.43 percent (from ₦35.00 to ₦38.30).
• McNichols gained 9.09 percent (from ₦4.95 to ₦5.40).
• NEM Insurance rose 7.99 percent (from ₦31.90 to ₦34.45).

On The Decliners’ Chart

• NASCON Industrial Chemicals led the losses, falling 10 percent (from ₦195.00 to ₦175.50).
• Beta Glass declined 9.99 percent (from ₦562.80 to ₦506.60).
• Academy Press, which fell 9.76 percent (from ₦6.15 to ₦5.55).
• CWG shed 9.35 percent (from ₦21.40 to ₦19.40).
• Learn Africa declined 9.20 percent (from ₦8.70 to ₦7.90).

MTN Nigeria Communications, Seplat Energy, UAC of Nigeria, Julius Berger and Golden Guinea Breweries, among others, closed flat.

Overall, Wednesday’s session reflected a relatively balanced market, with broad participation on both sides of the market but insufficient buying pressure to push the benchmark higher. The NGX remains at an elevated level after its recent recovery, leaving investors to continue weighing profit-taking against opportunities in individual stocks.