The Nigerian stock exchange started the bearish, losing over N226 billion in capitalization today, attributable majorly to losses seen from the industrial sector, particularly cement producer, BUACEMENT, posting losses of over 9% in today’s session.
The All-share Index (ASI) lost 0.83% from 50,370.25 basis points to close at 49,950.32 basis point. In the same vein, the Market Capitalization also lost 0.83% to close at N26.94 trillion. Year-to-Date (YtD), the NGX is still one of the top performing markets in the world as is has gained 16.93% so far.
Market breadth closed positive as CAVERTON led 21 gainers while 14 Losers were topped by BUACEMENT at the end of today’s session. On a sectoral level, 2 of the 5 major indices of the Nigerian Exchange closed positive. NGX Banking and Insurance gained 0.19% and 0.12% respectively. NGX Industrial and Consumer Goods lost 4.18% and 0.13% respectively while the NGX Oil & Gas closed flat.