The Nigerian stock market declined by 0.43% on Tuesday, with a N285 billion loss in market capitalization. The All-Share Index dropped to 106,167.75. The market closed with 31 losers and 23 gainers, led by Mecure Industries and Livestock Feeds.
On Tuesday, the Nigerian stock market faced a downturn, with the performance indices dropping by 0.43%. The market capitalization of the Nigerian Exchange Ltd. (NGX) fell by N285 billion, from N66.769 trillion to N66.484 trillion. Additionally, the All-Share Index declined by 454 points to close at 106,167.75 compared to the previous day’s closing of 106,621.91.
The market breadth reflected a negative performance, with 31 stocks losing value and 23 gaining. Among the top losers were Mecure Industries, which fell by 10% to close at N11.25, and ABC Transport, which decreased by 7.98% to finish at N1.50. Other notable declines included Daar Communications at 62k, Guinea Insurance at 63k, and Royal Exchange at 75k, all of which faced significant drops in their stock prices.
Conversely, the gainers’ chart featured Livestock Feeds, which surged by 9.93% to close at N9.85, while Cornerstone Insurance increased by 9.25% to finish at N3.19. Other gainers included International Energy Insurance, which rose by 8.99% to N1.94, and Smart Products Nigeria, gaining by 8.33% to close at 39k. Lasaco Assurance also saw a rise of 7.55%, ending at N2.85.
Overall, a total of 324.59 million shares valued at N7.918 billion were traded across 12,652 transactions, a decrease from the previous 364.97 million shares worth N17.628 billion across 14,565 transactions. Fidelity Bank led the trading activity with 29.387 million shares worth N502 million, followed by Access Corporation and Guaranty Trust Holding Company, which also had significant trading volumes.
The Nigerian stock market experienced a notable decline, where the NGX market capitalization fell by N285 billion and the All-Share Index decreased by 454 points. The session concluded with more losers than gainers, indicating a bearish sentiment among investors. A significant volume of shares traded reflected continuous activity, despite the overall downturn.
Original Source: www.premiumtimesng.com
