The sharpest signal from the Nigerian Exchange today was not the headline rise in the benchmark but the split underneath it: Nigeria REIT surged 9.7% to 113.0 NGN on 2.03 billion in volume even as market breadth deteriorated to 9 gainers against 43 losers. That divergence matters because the NGX all share index climbed 1.31% to 1,830.37, yet the broader tape showed a market still struggling to sustain risk appetite across sectors.
Key figures
- Nigeria REIT +9.7% to 113.0 NGN
- NGX ASI +1.31% to 1,830.37
- Breadth: 9 up / 43 down / 6 unchanged
- NREIT traded 2.03 billion in volume
- Brent crude at $80.44/bbl, down 4.0% on the day and 9.7% on the week
NGX today: index up, but the market was narrow
The benchmark’s gain masked a weak underlying session. Out of 58 stocks tracked, 74.1% declined, while only 15.5% advanced. That is usually the signature of a narrow market, where a few names absorb liquidity while the majority of stocks drift lower. The steepest declines included , down to , , down to , , off to , and , down to .