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The NGX extended its decline on Wednesday as sustained selling pressure pushed the ASI down 0.17 percent, while market capitalisation fell by N260 billion.
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Market breadth remained negative, with 41 decliners against 17 gainers, reflecting continued bearish sentiment across the market
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NEIMETH led the gainers, while FIDSON recorded the biggest decline of the session.
August 26, (THEWILL) — The Nigerian equities market extended its bearish run on Wednesday as sustained selling pressure across several counters dragged the benchmark index and market capitalisation lower.
The NGX All-Share Index (ASI) declined by 0.17 percent, falling from 239,085.17 points at the opening to 238,682.92 points at the close.
Market capitalisation also declined by N260 billion, from N154.396 trillion to N154.136 trillion.
Market breadth remained negative, with 17 gainers and 41 decliners, reflecting persistent selling pressure across the market.
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Price Gainers
- The gainers’ chart was led by NEIMETH, which appreciated by 9.66 percent (rising from N7.25 to N7.95).
- NEM followed with a 6.67 percent gain (moving from N30.00 to N32.00).
- REGALINS advanced by 6.25 percent (from N0.80 to N0.85).
- LINKASSURE gained 5.62 percent (increasing from N1.78 to N1.88).
- UPDCREIT rose by 2.88 percent (from N13.90 to N14.30).
Price Decliners
- On the decliners’ side, FIDSON recorded the steepest loss of the session, shedding 9.99 percent (to close at N84.20 from N93.55).
- FTNCOCOA declined by 9.74 percent (from N8.65 to N7.79).
- INTENEGINS also lost 9.74 percent (falling from N3.49 to N3.15).
- LIVESTOCK dropped by 9.43 percent (from N7.95 to N7.20).
- OMATEK declined by 9.42 percent *from N1.38 to N1.25).
MTN Nigeria Communications, Dangote Cement Plc, Custodian Investment, Julius Berger Plc, among others, closed flat for the day.
Investor sentiment remained bearish, as the dominance of declining stocks pointed to continued caution among market participants. The weak breadth also outweighed gains recorded in selected counters, resulting in another decline in the benchmark index.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
