NGX Opens Week Lower as Market Cap Drops ₦91bn
Trading on the Nigerian Exchange Limited (NGX) started the week on a negative note on Monday, with the benchmark All-Share Index (ASI) and total equity market capitalisation recording marginal declines.
The NGX market capitalisation fell by ₦91 billion, moving from ₦162.842 trillion at the start of trading to ₦162.751 trillion at the close.
Similarly, the All-Share Index declined by 140.41 points, representing a 0.06 percent drop, to finish at 250,667.86 points from its opening level of 250,808.27 points.
Decliners take the lead
The session ended with negative market breadth as 29 listed companies recorded price losses, compared with 24 equities that appreciated.
Despite the overall weakness, some stocks posted strong gains during the session.
Sovereign Trust Insurance led the gainers after rising by 10 percent from ₦2.10 to ₦2.31 per share. FTN Cocoa Processors followed with a 9.97 percent increase, climbing from ₦7.62 to ₦8.38.
Tripple Gee and Company advanced 9.87 percent to ₦2.56, while Learn Africa gained 9.80 percent to close at ₦8.40. Livestock Feeds completed the top five gainers, appreciating by 9.55 percent to ₦9.75.
On the losing side, Critical Minerals Financing Corporation recorded the biggest decline, dropping 9.80 percent from ₦4.49 to ₦4.05.
ABC Transport followed with a 9.46 percent decline to ₦6.70, while Africa Prudential fell 7.31 percent to ₦10.15. Japaul Gold and Ventures declined 6.94 percent to ₦2.68, while WAPIC Insurance shed 6.36 percent to close at ₦2.21.
Several blue-chip stocks remain unchanged
A number of major equities ended the session without any change in their share prices.
Among them were Dangote Cement, Seplat Energy, Custodian Investment, Julius Berger, Champion Breweries, BUA Foods and Dangote Sugar Refinery.
The mixed performance of individual stocks ultimately left the broader market slightly weaker, as losses in several counters outweighed gains recorded elsewhere.
Monday’s decline also extends the market’s recent period of softer trading. The previous Friday had seen the ASI fall by 0.16 percent, while market capitalisation dropped by ₦261.92 billion.
Investors will now look ahead to subsequent trading sessions for signs of renewed buying interest and a possible recovery in the benchmark index.
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