NGX Starts Week Lower As Decliners Outpace Gainers

• Market capitalisation declined marginally by ₦106 billion, from ₦156.623 trillion at the opening to ₦156.517 trillion at the close.

• The NGX All-Share Index fell by 164.55 points, from 242,619.20 to 242,454.65.

• Market breadth remained negative, with 19 gainers against 36 decliners as selling pressure persisted.

August 17, () — The Nigerian Exchange (NGX) started the week on a cautious note on Monday as sustained pressure across several counters outweighed gains recorded in selected stocks.

Market capitalisation, which opened at ₦156.623 trillion, declined to ₦156.517 trillion at the close, while the NGX All-Share Index (ASI) fell from 242,619.20 to 242,454.65.

The session recorded 19 gainers and 36 decliners, reflecting a broadly negative market breadth.

Top Five Gainers

• Trans-Nationwide Express led the gainers’ chart, appreciating by 9.86 percent (₦2.84 to ₦3.12).
• Ava Capital followed with a 9.72 percent gain (₦7.20 to ₦7.90)
• Thomas Wyatt rose by 9.09 percent (₦2.75 to ₦3.00).
• Legend International gained 8.75 percent (₦4.00 to ₦4.35).
• Dangote Sugar Refinery advanced by 8.60 percent (₦64.55 to ₦70.10).

Top Five Decliners

• RT Briscoe recorded the steepest decline, falling by 9.91 percent (₦11.60 to ₦10.45).
• FTG Insurance followed with a 9.89 percent decline (₦2.63 to ₦2.37).
• McNichols shed 9.62 percent (from ₦5.20 to ₦4.70).
• UPL declined by 9.35 percent (₦5.35 to ₦4.85).
• NEM Insurance fell by 8.83 percent (₦33.40 to ₦30.45).

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Dangote Cement, HBM Nigeria Plc, Julius Berger, Custodian Investment Plc, Unilever Nigeria Plc, amongst others, closed flat for the session

Investor sentiment remained cautious as the market recorded substantially more decliners than gainers, although the relatively modest decline in the ASI and market capitalisation suggests that the selling pressure was contained.

The continued volatility across insurance and other lower-priced counters also points to selective repositioning, with investors taking positions in some stocks while exiting others.

The market may remain volatile in the next trading session as investors continue to assess recent price movements and reposition across sectors.

The negative breadth suggests that caution could persist, although the resilience of the benchmark despite the wide gap between gainers and decliners may provide some room for selective buying. Investors are likely to remain focused on fundamentally strong counters and stocks trading at more attractive valuations.