NGX Market Sheds N106bn Amidst Bearish Sentiment
The Nigerian Exchange Limited saw a decline in market capitalization by N106 billion on Monday amid bearish sentiment. While most sectors experienced pullbacks, the consumer goods index showed slight growth.
Why it matters
Market fluctuations on the NGX reflect investor sentiment and the broader economic climate in Nigeria.
The Nigerian Exchange Limited experienced an aggregate market value decline on Monday as trading closed on a bearish note. The All-Share Index decreased 0.07 per cent to close at 242,454.65 points, dropping from 242,619.20 points recorded on Friday. Correspondingly, market capitalisation for equities contracted by N106.24bn, ending the session at N156.52tn compared to N156.62tn reported at the previous close. Throughout the five-day trading window, the ASI reached a high point of 246,723.57 points and recorded a low of 242,454.65 points, bringing the average index point to 243,756.38 points. Across sectoral and thematic performance metrics, board indices displayed widespread modest pullbacks. The NGX Main-Board Index slipped to 10,910.62 points, while the NGX 30 Index registered at 8,890.47 points. The NGX Premium Index slid slightly to 28,662.38 points.
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