Nigerian Stock Market Declines 0.07% Amid Bearish Sentiment

On October 7, the Nigerian equities market continued its downward trend, with the NGX All-Share Index (ASI) decreasing by 0.07% to close at 250,096.75 points, down from 250,273.50 points. The market capitalisation also declined by N110 billion, finishing at N162.39 trillion, down from N162.50 trillion.

The market breadth remained negative, with 23 gainers compared to 30 losers, a shift from the previous session's 26 gainers and 34 losers. Although selling pressure eased slightly, decliners still outnumbered advancers.

Tripple Gee & Company led the gainers with a 9.96% increase, closing at N3.09 per share, followed by Critical Minerals Financing Corporation with a 9.86% gain to close at N4.01 per share. In contrast, Thomas Wyatt Nigeria topped the losers' list with a 9.74% decline, closing at N2.41 per share.

Analysts noted that the session was characterized by bearish sentiment and reduced trading activity.