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Market capitalisation declined by ₦440 billion, from ₦155.417 trillion at the opening to ₦154.977 trillion at the close.
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The NGX All-Share Index fell by 712.67 points, from 240,750.47 to 240,037.80, a 0.30 percent decline.
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Market breadth remained negative, with 14 gainers against 29 decliners as selling pressure persisted.
August 20, (THEWILL) — The Nigerian Exchange (NGX) extended its losing streak on Thursday as continued weakness across several counters dragged the benchmark index lower and pushed market capitalisation below the ₦155 trillion mark.
Market capitalisation, which opened at ₦155.417 trillion, fell to ₦154.977 trillion at the close, representing a ₦440 billion decline. The All-Share Index also dropped from 240,750.47 to 240,037.80.
The session recorded 14 gainers and 29 decliners, reflecting sustained bearish sentiment across the market. The ASI’s 0.30 percent decline was also consistent with the broader market performance reported for the session.
Top Five Gainers
- HMCALL led the gainers’ chart, appreciating by 9.38 percent (₦3.52 to ₦3.85).
- Trans-Nationwide Express followed with an 8.90 percent gain (₦2.81 to ₦3.06).
- McNichols rose by 8.33 percent (₦4.80 to ₦5.20).
- Cutix appreciated by 2.56 percent (₦2.34 to ₦2.40).
- Veritas Kapital Assurance gained 1.52 percent (₦1.32 to ₦1.34).
Top Five Decliners
- International Energy Insurance recorded the steepest decline, falling by 9.85 percent (₦4.77 to ₦4.30).
- WAPIC followed with a 9.84 percent decline (₦2.44 to ₦2.20).
- FTG Insurance shed 9.76 percent (₦2.05 to ₦1.85).
- Ava Capital declined by 7.89 percent (₦7.60 to ₦7.00).
- Zichis fell by 7.36 percent (₦18.35 to ₦17.00).
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MTN Nigeria Communications, FirstHoldCo, Seplat Energy Plc, Custodian Investment Plc, UACN Plc, Champion Brewery Plc, amongst others, closed flat for the day.
Investor sentiment remained bearish as decliners more than doubled the number of gainers, with selling pressure concentrated in several counters.
The continued weakness also means the market has now moved further away from its recent highs, with investors appearing increasingly selective in positioning across individual stocks.
However, gains recorded by HMCALL, Trans-Nationwide Express and McNichols indicate that buying interest remains present in selected counters despite the broader weakness.
The market could remain under pressure in the next trading session if the current selling trend persists. However, the presence of gains in selected stocks suggests that investors may continue to pursue opportunities in counters showing stronger price momentum.
Attention will likely remain on heavyweight stocks and whether buying interest in fundamentally stronger counters can provide support for 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.
