Nigerian Equities Market Slips 0.40% Amid Sectoral Weakness
The Nigerian Exchange (NGX) experienced a decline as the All-Share Index (ASI) dropped by 0.40% on September 23. The market capitalization also decreased from ₦20.2 trillion to ₦20.1 trillion.
The market breadth was weak with 16 gainers and 35 losers, influenced by sectoral weaknesses and macroeconomic challenges. Consumer goods stocks, particularly Dangote Sugar, weighed heavily on the index, while banking sector stocks like Wema Bank and Access Holdings faced pressure.
However, Custodian and NGX Group showed resilience, attracting selective investor interest. Analysts attributed the decline to sectoral pressures and cautious investor sentiment amid tight monetary conditions and fiscal challenges.
Plus234Feed summary based on reporting from The Will. Read the original report below.
Read full article
Continue on The Will
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Nigerian Stock Market Gains 0.23% in Q3, Market Cap Hits N90.58trn
Nigerian Equities Market Ends Week Positively Amid Cautious Trading
Nigerian Stock Exchange ASI Rises 1.35% as Market Ends Week Higher
Stock Market Commence New Week on Positive Note
NGX Witnesses Market Rally Led by Banks and WAPCO, Hits ₦986 Billion
Nigeria’s Stock Market Reverses Gain, Closes Negative As Investors Take Profit
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
