The Nigerian Exchange Limited (NGX) started the new trading week on a negative note, with market capitalisation declining from N165.114 trillion to N165.079 trillion. The All-Share Index shed 54.28 points to close at 254,245.21. This decline reflects a 0.02 percent decrease from the previous trading day. The marginal decline in market capitalisation and the All-Share Index indicates a cautious start to the week.
Market breadth was negative, with 21 gainers and 42 decliners. Champion Breweries and SUNU Assurances led the losers with 10.00 percent declines. The difference between gainers and decliners shows that losses were twice as widespread as gains. This weak investor sentiment was reflected in the negative market breadth despite the relatively marginal decline in benchmark indicators.
Top gainer Consolidated Hallmark Insurance advanced by 10.00 percent to N7.15. Other gainers include Livestock Feeds, which gained 9.77 percent to N14.60, and Mansard Insurance, which rose by 9.30 percent to N11.75. UPDC Plc appreciated by 7.46 percent to N3.60, and NPF Microfinance Bank gained 7.14 percent to N4.50. These stocks showed positive performance amidst the overall market decline.
In contrast, several stocks closed with significant losses. Champion Breweries fell by 10.00 percent to N8.10, and SUNU Assurances declined by 10.00 percent to N2.70. Aradel Holdings shed 9.99 percent to N1,296.00, and Vitafoam Nigeria lost 9.97 percent to N157.20. Cornerstone Insurance also declined by 9.89 percent to N4.10. These declines contributed to the negative market breadth.
Some major equities, including MTN Nigeria Communications, Presco Plc, and John Holt Plc, closed unchanged during the session. This indicates that trading activity was mixed, with investors maintaining positions in selected stocks while reducing exposure to others. The unchanged positions suggest a cautious approach by investors.
The session's performance reflects a market struggling to sustain gains recorded in the previous week. Although the decline in market capitalisation and the All-Share Index was marginal, the negative market breadth pointed to broader weakness in individual stock performance. This weakness may continue if investors remain cautious.
Looking ahead, investors will monitor whether the market can regain positive momentum in subsequent sessions. A recovery in market breadth, supported by renewed buying interest across more equities, would be crucial in reversing the negative trend. Meanwhile, continued selling pressure in major stocks could keep benchmark indicators under pressure.
Key points
- Market capitalisation declined by N35 billion to N165.079 trillion.
- The All-Share Index shed 54.28 points to close at 254,245.21.
- Market breadth was negative, with 21 gainers and 42 decliners.
