NGX ASI falls 1.33% to 1,803.46 despite selective gains
The NGX ASI fell 1.3338% to 1,803.46 on July 8, after a 1.86 trillion naira rebound on July 7 driven by MTN, Dangote Cement and other stocks, according to THISDAYLIVE. The run remains choppy after MTN Nigeria shed 1.7 trillion naira on July 6 as investors exited positions, MarketForces Africa reported. Some names still outperformed the broader decline, with Airtel Africa and Transcorp Hotels up 10% on July 8, while FCMB gained 11.1% over 5 days and NGXGROUP rose 14.2% over 5 days, according to analyst notes. On the corporate front, UTM FLNG signed a Gas Sale Agreement with the NNPCL/SEPLAT ENERGY JV, according to The Nation Newspaper.
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