Equities Extend Bearish Run As All-Share Index Falls 0.18%

The Nigerian equities market extended its bearish trend as selling pressure continued to weigh on investor sentiment across the bourse, with the benchmark All-Share Index (ASI) declining further.

The ASI declined by 0.18 per cent to close at 251,861.24, reflecting continued profit-taking and cautious investor sentiment following the market’s recent recovery. Nevertheless, the benchmark index remained above the 250,000-point threshold.

Consequently, market capitalization decreased by N293 billion to close at N163.53 trillion.

Analysts noted that the broad decline across all trading indicators suggests reduced market participation and weaker trading momentum.

APT Securities & Funds Limited said that the session was characterized by bearish sentiment and weaker trading activity, as the market recorded another decline alongside a contraction in trading volume, transaction value and deal count.

Market breadth closed negative, with 22 gainers against 29 losers, as selling spread across banking, commodity, insurance and consumer goods. University Press led the gainers’ chart by 9.89 per cent to close at N5.00, per share. Caverton Offshore Support Group followed with 8.96 per cent gain to close at N3.65, while Abbey Bank appreciated by 8.66 per cent to close at N6.90, per share.

Champion also advanced by 8.56 per cent to close at N10.15, while Ecobank Transnational Incorporated (ETI) rose by 6.93 per cent to close at N74.85, per share.

On the flip side, Okomu Oil led the losers’ chart with a 10.00 per cent decline to close at N1,148.60, per share. Nigerian Enamelware followed with a 9.96 per cent drop to close at N33.00 , while NASCON Allied Industries fell by 8.99 per cent to close at N167.00, per share.

FTN Cocoa Processors declined by 8.36 per cent to close at N6.80, and VFD Group lost 6.67 per cent to close at N11.20, per share.

Overall, the total volume of trade decreased by 23.27 per cent to 418.349 million units, valued at N22.826 billion, and exchanged in 30,908 deals.