NGX extends bears as ASI dips marginally by 0.1%

On Thursday, the local bourse extended its losing streak as the All-Share Index (ASI) declined by 0.06 per cent to 105,426.12 points, bringing the year-to-date return to 2.43 per cent.

Market capitalization also fell by 0.06 per cent to N66.11 trillion, reflecting a N37.5 billion loss in equities by the session’s close.

Investor sentiment remained negative amid the broader downturn, with weak market breadth—22 stocks gained while 28 declined.

Leading the advancers were The Initiates, Mutual Benefits Assurance, Universal Insurance, Royal Exchange and Learn Africa having dipped by 9.65 per cent, 9.09 per cent, 9.09 per cent, 8.99 per cent and 8.14 per cent, respectively.

Meanwhile, John Holt, Chams, NSLTECH, May and Baker International Pharmaceutical and Union Property Development Company led the laggards, having lost 10.00 per cent, 8.52 per cent, 8.47 per cent, 7.95 per cent, and 6.90 per cent from their respective share prices.

Sectoral performance was mixed. The Insurance and Industrial Goods sectors inched up by 0.09 per cent and 0.01 per cent, respectively, while the Banking,

Consumer Goods, and Oil & Gas sectors recorded losses of 0.96 per cent, 0.20 per cent, and 0.35 per cent, respectively. The Commodity sector, however, remained flat at 0 per cent.

Trading activity saw a significant slowdown, with total traded volume plummeting by 92.65 per cent to 423.62 million shares, while transaction value plunged by 97.32 per cent to N9.18 billion. This sharp contraction indicates lower investor participation.

The number of deals rose by 4.45 percent to 11,393 suggesting increased retail investor activity.

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