NGX Market Capitalisation Drops N35 Billion Amid Declines
On November 2, the Nigerian Exchange Limited (NGX) opened the trading week negatively, with market capitalisation decreasing by N35 billion from N165.114 trillion to N165.079 trillion by the close of trading. The All-Share Index (ASI) fell by 54.28 points, marking a 0.02 percent decline from 254,299.49 to 254,245.21 points.
This downturn was attributed to selling pressure in various equities, which outweighed the gains seen in selected stocks. The market breadth remained negative, with 21 equities appreciating in price compared to 42 decliners, indicating that losses were significantly more widespread than gains.
This trend reflects weak investor sentiment across the Exchange, despite the relatively minor decline in the benchmark indicators.
Plus234Feed summary based on reporting from The Will. Read the original report below.
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