NGX All-Share Index Drops 1.05% Amid Bearish Market

On September 9, 2023, the Nigerian Exchange (NGX) continued its bearish trend as the benchmark All-Share Index (ASI) fell by 1.05 percent. The ASI opened at 244,802.11 points but decreased by 2,579.01 points to close at 242,223.10 points.

Despite this decline, the market capitalization remained unchanged at N158.721 trillion throughout the session. The market breadth indicated broad-based weakness, with 44 equities recording price declines while only 11 equities gained.

Champion Breweries led the gainers with a 9.90 percent increase, rising from N10.10 to N11.10. VFD Group followed with a 9.52 percent appreciation, moving from N10.50 to N11.50.

Other notable gainers included UPDC, which gained 5.88 percent, Ikeja Hotel with a 4.58 percent rise, and Cutix, which advanced by 3.06 percent.