January 19, (THEWILL) — The domestic equities market closed marginally lower on Monday, despite a positive market breadth driven by a higher number of gainers than losers.
Market capitalisation opened at N106.353 trillion and eased slightly to close at N106.342 trillion, while the All-Share Index (ASI) opened at 166,129.50 points and closed lower at 166,112.50 points.
Market breadth was positive, with 44 gainers outweighing 24 losers, reflecting continued buying interest across several stocks despite the mild pullback in the benchmark index.
Top gainers for the session were led by
CHAMPION, which advanced by 10.00 percent (from N17.50 to N19.25).
LEARNAFRCA followed with a 10.00 percent (appreciation from N6.50 to N7.15).
NCR gained 10.00 percent, (moving from N128.55 to N141.40).
TRIPPLEG rose by 9.94 percent (from N5.33 to N5.86).
NEIMETH advanced by 9.90 percent (from N10.10 to N11.10).
On the downside
IMG led the losers, declining by 9.95 percent (from N38.70 to N34.85).
HMCALL dropped by 9.88 percent (from N4.25 to N3.83).
LIVINGTRUST fell by 9.57 percent (from N4.91 to N4.44).
IKEJAHOTEL shed 7.28 percent, (moving from N35.05 to N32.50).
UNIONDICON declined by 5.26 percent (from N9.50 to N9.00).
Stocks that closed unchanged during the session included MTN Nigeria, Dangote Cement, Seplat Energy, Golden Guinea Brewery, and Guinness Nigeria Plc.
Investor sentiment remained cautiously positive, as the strong market breadth suggested selective accumulation in equities.
Trading in the next session is expected to remain mixed, with investors likely to continue stock-specific positioning amid profit-taking in recent gainers.
Ogochukwu Onwaeze
