NGX Index Falls 1.17% as 64 Stocks Decline

On September 8, trading on the Nigerian Exchange Limited (NGX) turned bearish, with the benchmark All-Share Index (ASI) decreasing by 1.17 percent. The ASI opened at 247,699.78 points but fell by 2,897.67 points to close at 244,802.11.

Market capitalization also declined by N1.879 trillion, dropping from N160.600 trillion at the opening to N158.721 trillion at the close. The trading session was marked by weak market breadth, with 64 equities recording price declines compared to only four gainers.

Ellah Lakes led the gainers with a 7.07 percent increase, while FG162029S1 topped the decliners with a 31.19 percent plunge. Other notable decliners included AVACAP, Fortis Global Insurance, Abbey Mortgage Bank, and Consolidated Hallmark Insurance.

Major stocks such as Dangote Cement and Seplat Energy remained unchanged. This session indicated a significant reversal from recent market gains, highlighting intensified selling pressure across the Exchange.