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Market capitalisation declined marginally by N35 billion to N165.079 trillion.
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The All-Share Index shed 54.28 points to close at 254,245.21.
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Market breadth weakened, with 21 gainers against 42 decliners, as Champion Breweries and SUNU Assurances led the losers with 10.00 percent declines.
November 2, (THEWILL) – The Nigerian Exchange Limited (NGX) opened the new trading week on a negative note on Monday, as market capitalisation declined marginally by N35 billion from N165.114 trillion at the opening to N165.079 trillion at the close of trading.
The All-Share Index (ASI) also shed 54.28 points, representing a 0.02 percent decline from 254,299.49 to 254,245.21 points, as selling pressure in several equities outweighed gains recorded in selected stocks.
Market breadth remained firmly negative, with 21 equities appreciating in price against 42 decliners.
The difference indicated that losses were twice as widespread as gains, reflecting weak investor sentiment across the Exchange despite the relatively marginal decline in the benchmark indicators.
Top Gainers
- Consolidated Hallmark Insurance advanced by 10.00 percent (N6.50 to N7.15).
- Livestock Feeds gained 9.77 percent (N13.30 to N14.60).
- Mansard Insurance rose by 9.30 percent (N10.75 to N11.75).
- UPDC Plc appreciated by 7.46 percent (N3.35 to N3.60).
- NPF Microfinance Bank gained 7.14 percent (N4.20 to N4.50).
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Top Decliners
- Champion Breweries fell by 10.00 percent (N9.00 to N8.10).
- SUNU Assurances declined by 10.00 percent (N3.00 to N2.70).
- Aradel Holdings shed 9.99 percent (N1,439.90 to N1,296.00).
- Vitafoam Nigeria lost 9.97 percent (N174.60 to N157.20).
- Cornerstone Insurance declined by 9.89 percent (N4.55 to N4.10).
Several equities closed unchanged during the session, including MTN Nigeria Communications, Presco Plc, John Holt Plc, Custodian Investment Plc, Golden Guinea Breweries and PZ Cussons Nigeria, among others.
The session’s performance reflected a market struggling to sustain the gains recorded in the previous week.
Although the decline in market capitalisation and the ASI was marginal, the negative market breadth pointed to broader weakness in individual stock performance.
The concentration of losses among several stocks, alongside the higher number of decliners, suggests that investors remained cautious at the start of the week.
The unchanged positions recorded by some major equities also indicate that trading activity was mixed, with investors maintaining positions in selected stocks while reducing exposure to others.
Looking ahead, investors will monitor whether the market can regain positive momentum in subsequent sessions.
A recovery in market breadth, supported by renewed buying interest across more equities, would be important in reversing the negative trend. Meanwhile, continued selling pressure in major stocks could keep the benchmark indicators under pressure.
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.
