Stock Market Sheds 0.07% On Sustained Downtrend

The Nigerian equities market extended its decline on Wednesday, with the NGX All-Share Index (ASI) falling by 0.07 per cent to 250,096.75 points from 250,273.50 points.

Market capitalisation similarly declined by N110 billion to close at N162.39 trillion from N162.50 trillion.

Also, market breadth remained negative, with 23 gainers against 30 losers, compared with 26 gainers and 34 losers in the previous session. Selling pressure eased modestly, although decliners continued to outnumber advancers. Tripple Gee & Company recorded the highest price gain of 9.96 per cent to close at N3.09, per share. Critical Minerals Financing Corporation (CMFC) followed with a gain of 9.86 per cent to close at N4.01, per share. while Champion Breweries up by 9.50 per cent to close at N10.95, per share.

Wapic Insurance appreciated by 9.24 per cent to close at N2.60, while Multiverse Mining & Exploration rose by 8.33 per cent to close at 39 kobo, per share.

On the other hand, Thomas Wyatt Nigeria led the losers’ chart by 9.74 per cent to close at N2.41, per share. Sovereign Trust Insurance followed with a decline of 7.60 per cent to close at N2.31, while LivingTrust Mortgage Bank rose by 7.25 per cent to close at N3.20, per share.

Neimeth International Pharmaceuticals down by 4.61 per cent to close at N7.25, while Veritas Kapital Assurance declined by 4.42 per cent to close at N1.08, per share.

The broad decline across key activity indicators suggests reduced investor participation and lower market engagement.

Analysts stated that “overall, the session was characterized by bearish sentiment and weaker trading activity, as the market extended its downward trend and closed marginally lower.”