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The NGX All-Share Index fell 0.25 percent to close at 247,736.24 points, while market capitalisation declined to N160.852 trillion.
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Market breadth was negative, with 31 decliners against 26 gainers.
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Neimeth and UPDCREIT led the gainers, advancing 10.00 percent each, while SUNU Assurances led the decliners, shedding 9.85 percent.
October 12, (THEWILL) – The Nigerian Exchange Limited (NGX) opened the week on a bearish note on Monday as the All-Share Index (ASI) declined from 248,363.55 points to close at 247,736.24 points, representing a loss of 0.25 percent.
Market capitalisation also fell from N161.260 trillion at the opening to N160.852 trillion at the close, representing a decline of N408 billion in equity value.
Market breadth was negative, with 31 equities recording price declines against 26 gainers, while several stocks closed unchanged. The higher number of decliners indicated that selling pressure outweighed buying interest across the market, despite strong advances in selected equities.
Pricing Session
Top Five Gainers
- NEIMETH gained 10.00 percent, (rising from ₦7.00 to ₦7.70).
- UPDCREIT advanced 10.00 percent, (from ₦24.00 to ₦26.40).
- GUINNESS appreciated 9.93 percent, (from ₦384.80 to ₦423.00).
- LIVESTOCK rose 9.89 percent, (from ₦13.15 to ₦14.45).
- NPFMCRFBK gained 9.52 percent, (moving from ₦4.20 to ₦4.60).
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Top Five Decliners
- SUNUASSUR shed 9.85 percent, (falling from ₦3.25 to ₦2.93).
- CMFC declined 9.78 percent, (from ₦3.58 to ₦3.23).
- OANDO lost 7.55 percent, (dropping from ₦36.40 to ₦33.65).
- LIVINGTRUST fell 6.25 percent (from ₦3.20 to ₦3.00).
- ZICHIS declined 6.16 percent (from ₦17.05 to ₦16.00).
Unchanged Stocks
Dangote Cement, Seplat Energy, Presco, Coronation Infrastructure, Julius Berger and Champion Breweries were among the equities that closed unchanged during the session.
Market Outlook
The market’s decline at the start of the week, coupled with the higher number of decliners, suggests that investors remained cautious. Although selected equities recorded significant gains, these advances were insufficient to offset losses across the broader market.
In the next session, market direction may depend on renewed buying interest, investor positioning and developments affecting listed companies. A recovery in the ASI would likely require stronger buying activity and improved market breadth.
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.
