NGX ASI Drops 0.54% as Market Cap Sheds N317.7bn

Samuel Mobolaji

The Nigerian Exchange (NGX) witnessed continued bearish sentiment in the first trading session of the week, as the All-Share Index (ASI) dipped by 0.54 per cent, closing at 96,907.73 points.

Persistent selloffs in MTNN (-2.80%), ARADEL (-9.99%), and GTCO (-0.36%) outweighed gains in UBA (+10.00%), ACCESSCORP (+1.81%), and FLOURMILL (+3.23%).

The decline reduced the year-to-date (YTD) return to 29.60 per cent, while market capitalisation shrank by N317.7 billion, ending at N58.72 trillion.

Trading activity also saw a dip, with transaction values dropping by 10.15% compared to the previous session.

Investors traded a total of 1.22 billion shares valued at N14.23 billion across 10,386 deals. UBA (+10.00%) led in both volume and value, with 240.76 million units worth N7.29 billion changing hands.

Market breadth remained negative, with a 0.55-to-1 ratio as declining stocks outpaced advancing ones. CAVERTON (-10.00%) was the top laggard among 28 decliners, while UBA (+10.00%) led the 15 gainers.