NGX edges lower as insurance gains soften market losses
The Nigerian Exchange Limited closed slightly lower on Monday, with the All-Share Index shedding 0.12%, though gains in insurance stocks helped soften loss Read More: https://punchng.com/ngx-edges-lower-as-insurance-gains-soften-market-losses/
The Nigerian Exchange Limited's benchmark All-Share Index experienced a modest decline on Monday, settling 0.12% lower at 250,501.51 points. The day's trading volume amounted to 875,262,157 units exchanged across 53,797 transactions. Nevertheless, the market sentiment remained stable across various sectors, with selective buying in insurance, agricultural, and tech stocks.
Sovereign Trust Insurance Plc led the gains, surging 10% to close at N2.31 while agricultural company FTN Cocoa Processors Plc and tech firm Tripple Gee and Company Plc also recorded notable increases of 9.97% and 9.87%, respectively. Conversely, Critical Minerals Financing Corp Plc was the most significant loser, declining 9.80% to close at N4.05.
Access Holdings postponed its first-half results due to delays in Central Bank of Nigeria (CBN) approvals. Among the losers, ABC Transport Plc saw a 9.46% drop to N6.70, Africa Prudential Plc declined 7.31% to N10.15, and Japaul Gold & Ventures Plc shed 6.94% to N2.68. The Financial Services sector dominated the trading volume, with Access Holdings, Fidelity Bank, and Zenith Bank leading the pack.
Tech volume was driven by Chams Holding Company and MTN Nigeria Communications, while the consumer goods sector faced a slight pullback, led by Nestle Nigeria Plc's 5.17% decrease.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
