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Market capitalisation declined by N541 billion to N161.593 trillion.
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The All-Share Index fell by 833.37 points to close at 248,877.22.
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Market breadth improved, with 29 gainers against 23 decliners, as Champion Breweries and Wapic Insurance led the gainers.
November 6, (THEWILL) – The Nigerian Exchange Limited (NGX) closed the week on a negative note on Friday, as market capitalisation declined by N541 billion from N162.134 trillion at the opening to N161.593 trillion at the close of trading.
The All-Share Index (ASI) also shed 833.37 points, representing a 0.33 percent decline from 249,710.59 to 248,877.22 points.
The performance extended the market’s losses after Thursday’s sharp downturn, when capitalisation fell by N3.281 trillion and the benchmark index declined by 1.98 percent.
Despite the overall decline, market breadth improved during the session, with 29 equities recording price gains against 23 decliners.
This represented a reversal of Thursday’s trading pattern, when 36 stocks lost value compared with 20 gainers, suggesting that buying interest returned to selected equities.
Top Gainers
- Champion Breweries advanced by 10.00 percent (N8.00 to N8.80).
- Wapic Insurance gained 10.00 percent (N2.00 to N2.20).
- Honeywell Flour Mills rose by 9.87 percent (N26.85 to N29.50).
- Sovereign Trust Insurance appreciated by 9.55 percent (N1.78 to N1.95).
- Mansard Insurance gained 9.26 percent (N10.80 to N11.80).
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Top Decliners
- PZ Cussons fell by 9.94 percent (N71.95 to N64.80).
- ABC Transport declined by 8.06 percent (N6.20 to N5.70).
- Africa Prudential shed 6.07 percent (N10.70 to N10.05).
- Tantalizers lost 5.26 percent (N3.80 to N3.60).
- UPL declined by 5.15 percent (N4.85 to N4.60).
Several equities closed unchanged during the session, including Dangote Cement, Seplat Energy Plc, Presco Plc, Livestock Feeds, John Holt Plc, Julius Berger Nigeria Plc and Golden Guinea Breweries, among others.
The Friday session reflected a market that remained under pressure despite a broader improvement in the number of advancing stocks.
Although the 29 gainers outnumbered the 23 decliners, the losses recorded in some equities were sufficient to keep the benchmark index and market capitalisation in negative territory.
The decline followed Thursday’s substantial sell-off, which saw the market lose N3.281 trillion in capitalisation.
Friday’s additional N541 billion loss brought the two-day reduction in market value to N3.822 trillion, while the ASI fell by 5,885.59 points over the same period.
The immediate outlook will depend on whether the improved market breadth translates into stronger buying activity in the coming week.
While the higher number of gainers offers some indication of selective bargain hunting, the continued decline in the ASI suggests that investors remain cautious.
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.
