Kayode Tokede
The Nigerian inventory market started the brand new week on a downward momemtum, as buyers profit-taking in Dangote Cement Plc and 38 ithers dragged market capitalization beneath the N160 trillion mark.
The Nigerian Exchange Limited All-Share Index (NGX ASI) declined by 2,261.39 foundation or 0.91 per cent to shut at 245,278.34 foundation factors.
Consequently, fairness market capitalisation fell by N1.47 trillion to shut at N159.257 trillion.
Market sentiment remained bearish, with 39 decliners, outweighing 15 advancers. Multi Trex Integrated Foods emerged the best worth gainer of 10 per cent to shut at 66 kobo, per share. Critical Minerals Financing Corporation (CMFC) adopted with a achieve of 9.97 per cent to shut at N3.64, whereas Austin Laz & Company superior by 9.93 per cent to shut at N3.21, per share.
Thomas Wyatt Nigeria elevated by 9.92 per cent to shut at N2.66, whereas Neimeth International Pharmaceuticals added 5.88 per cent to shut at N8.10, per share.
On the opposite aspect, Vitafoam Nigeria led others on the losers’ chart with10 per cent to shut at N174.60, per share. Cutix adopted with a decline of 9.79 per cent to shut at N2.12, whereas Omatek Venture shed 9.38 per cent to shut at N1.45, per share.
International Energy Insurance declined by 6.48 per cent to shut at N2.02, whereas Linkage Assurance declined by 6.29 per cent to shut at N1.64, per share.
The complete quantity traded superior by 35.5 per cent to 349.34 million items, valued at N17.99 billion, and exchanged in 43,115 offers. Transactions in the shares of Access Holdings led the exercise with 23.439 million shares price N658.348 million. Livestock Feeds adopted with account of 23.143 million shares valued at N403.202 million, whereas United Bank for Africa (UBA) traded 22.818 million shares valued at N959.123 million.
Honeywell Flour Mills traded 22.238 million shares price N393.646 million, whereas GTCO traded 14.433 million shares price N1.777 billion.
Analysts famous that the session was characterised by bearish sentiment and stronger buying and selling exercise, as elevated market participation did not offset sustained promoting stress.
Looking forward, Cowry Assets Management Limited acknowledged that bargain-hunting may help a near-term restoration, though persistent profit-taking might constrain market positive aspects.
