The Nigerian Exchange (NGX) kicked off the week on a bearish note as market capitalisation declined by 0.10%, closing at N67.345 trillion from an opening value of N67.418 trillion. The All-Share Index (ASI) followed suit, shedding 0.10% to settle at 107,937.74 points.
Despite the dip, trading activity remained robust, with investors exchanging securities worth N12.806 billion across 17,095 deals. Market sentiment was mixed, as 20 stocks posted gains while 42 recorded losses, signaling a cautious approach by investors.
Top Gainers and Losers Leading the pack of gainers, Nigerian Breweries surged by 10% to close at N36.30, while Cadbury trailed closely with a 9.97% increase, settling at N32.00. Conversely, Ikeja Hotel and Learn Africa suffered the session’s biggest losses, both plunging by 10% to close at N12.60 and N3.87, respectively.
The decline in key indices reflects persistent market volatility, with investors weighing economic developments and corporate earnings against broader macroeconomic factors. Analysts suggest that cautious optimism and sector-specific strategies could help traders navigate the market’s current fluctuations.
As investors anticipate further developments, market watchers remain hopeful for a turnaround, hinging on stronger corporate performances and economic stability.
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