Activities on the Nigerian Exchange Limited (NGX) sustained a southward trajectory following losses recorded by blue chip firms.
Checks by Nairametrics showed that the gains recorded in the shares of Chams Plc, FCMB Plc and other blue-chip stocks dragged market capitalisation to further lose N24 billion or 0.09%, accumulating days of a bearish trend.
Consequently, the local Bourse (NGX) closed negative amidst sell pressure as bears dominated proceedings on the trading floor.
The All-share Index (ASI) depreciated by 0.09% or 45.19 basis points to close at 49,559.73 index points as against 49,644.93 index point the previous day. In the same vein, the overall market Capitalization declined by N24 billion or 0.09% to close at N26.753 trillion as against N26.777 trillion the previous day.
However, market breadth closed positive with 17 gainers against 16 losers as PZ Cussons Plc led the gainers with 9.76% while Chams Plc led the losers with 10%.