Stock market sheds N144 billion amid sell-offs
The Nigerian stock market shed N144 billion on Tuesday as sell-offs in 21 equities pushed key performance indicators down by 0.09 per cent.
Market capitalisation fell to N160.708 trillion from N160.852 trillion on Monday, a loss of N144 billion.
Similarly, the All-Share Index fell by 222.61 points, or 0.09 per cent, to close at 247,513.63, down from 247,736.24 on Monday. Consequently, the market’s year-to-date return eased to 59.06 per cent.
Despite the overall decline, market breadth closed positive, with 24 gainers against 21 losers. Etranzact led the gainers’ table, rising by 9.96 per cent to close at N14.35 per share.
WAPIC followed with a 7.83 per cent gain, settling at N2.48, while Daar Communications advanced 7.25 per cent to N1.48 per share. Livestock Feeds rose by 6.92 per cent to N15.45, while Chams appreciated by 5.88 per cent to close at N3.60 per share.
Conversely, Legend Internet led the losers’ table, shedding 6.85 per cent to close at N3.40 per share. Omatek Ventures declined by 6.43 per cent to N1.31, while Secure Electronic Technology lost 5.71 per cent to close at 66 kobo per share.
Mutual Benefits Assurance fell by 5.49 per cent to N3.10, while AIICO Insurance dipped by 4.39 per cent to N3.92 per share.
Trading activity weakened, with total volume falling by 2.76 per cent to 394.20 million shares, valued at N21.38 billion across 38,707 deals.
Access Corporation led trading by volume, recording 57.02 million shares, representing 14.46 per cent of the total volume traded. GTCO recorded the highest transaction value at N3.13 billion, accounting for 14.63 per cent of the day’s total traded value.
(NAN)
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Stock market sheds N144 billion amid sell-offs
The Nigerian stock market shed N144 billion on Tuesday as sell-offs in 21 equities pushed key performance indicators down by 0.09 per cent.
