Trading on the Nigerian Exchange Limited (NGX) ended on a bearish note Thursday, with the market capitalisation dipping by ₦31 billion amid sustained profit-taking and cautious investor sentiment.
The total market capitalisation declined by 0.05%, falling from ₦66.140 trillion on Wednesday to ₦66.109 trillion.
Similarly, the NGX All-Share Index (ASI) dropped by 49.26 points, closing at 105,426.12, compared to the previous day’s 105,475.38.
Analysts attribute the marginal downturn to investor repositioning and sell-offs in key sectors, advising traders to monitor upcoming earnings reports and macroeconomic signals for potential rebound opportunities.
The negative performance was attributed to reactionary behaviour exhibited by some investors.
The market breadth closed negative, with 29 losers and 23 gainers.
On the losers’ chart, John Holt declined by 10 per cent to close at N7.74, while Chams Holding dropped by 8.52 per cent to close at N2.04 per share.
Secure Electronic Technology fell by 8.42 per cent to close at 54 kobo, and May & Baker Nigeria lost 7.95 per cent to close at N8.10 per share.
Similarly, UPDC Real Estate Investment Trust declined by 6.90 per cent to close at N2.70 per share.
On the gainers’ chart, FG202031S1 rose by 12.09 percent to close at N97.52, while The Initiates Plc soared by 9.85 percent to close at N4.46 per share.
Universal Insurance increased by 9.09 per cent to close at 60k, and Mutual Benefits rose by 9.09 per cent to close at 96kobo per share.