On Tuesday, Nigeria’s stock market declined by 0.43%, resulting in a loss of N285 billion. The All-Share Index fell to 106,167.75, with 31 stocks losing and 23 gaining value. Significant losers included Mecure Industries and ABC Transport, while Livestock Feeds and Cornerstone Insurance saw gains. Total trading activity decreased compared to the previous day.
On Tuesday, Nigeria’s stock market experienced a decline of 0.43%, resulting in a loss of N285 billion. The market capitalization of the Nigerian Exchange Limited (NGX) dropped from N66.769 trillion to N66.484 trillion. The All-Share Index also fell by 454 points, closing at 106,167.75, a contrast to the previous day’s figure of 106,621.91. The market breadth was negative with 31 stocks declining and 23 appreciating.
Notably, Mecure Industries led the decline, falling by 10% to close at N11.25. Other significant losers included ABC Transport, dropping 7.98% to N1.50, Daar Communications with a 7.46% decrease to 62k, Guinea Insurance down by 7.35% to 63k, and Royal Exchange losing 7.32% to 75k.
Conversely, some stocks saw gains. Livestock Feeds surged by 9.93% to close at N9.85, while Cornerstone Insurance rose by 9.25% to N3.19. Other gainers included International Energy Insurance at N1.94, Smart Products Nigeria at 39k, and Lasaco Assurance at N2.85.
In terms of trading activity, 324.59 million shares valued at N7.918 billion exchanged hands in 12,652 transactions. This is a decrease from the previous day, which saw 364.97 million shares valued at N17.628 billion across 14,565 transactions. Fidelity Bank was the most active, trading 29.387 million shares valued at N502 million, followed by Access Corporation and Guaranty Trust Holding Company with substantial transactions as well.
In summary, Nigeria’s stock market faced a downturn, with a notable decrease in market capitalization and the All-Share Index. While many stocks suffered losses, several other companies recorded gains. The trading volume also decreased compared to the previous day, indicating a cautious approach among investors in the current market climate.
Original Source: www.premiumtimesng.com
