On Tuesday, the Nigerian stock market fell by 0.43%, losing N285 billion in market capitalisation. The All-Share Index declined by 454 points. Market performance was negative with 31 losers versus 23 gainers, with significant losses for Mecure Industries and ABC Transport. Livestock Feeds and Cornerstone Insurance were among the gainers. Overall trading volume decreased compared to the previous day.
On Tuesday, the Nigerian stock market experienced a decline of 0.43%, resulting in a loss of N285 billion in market capitalisation, bringing the total value down to N66.484 trillion from N66.769 trillion. The All-Share Index also fell by 454 points, closing at 106,167.75, compared to the previous day’s figure of 106,621.91.
Market performance revealed a negative breadth, with 31 stocks losing value while 23 stocks gained. Among the worst performers, Mecure Industries plummeted by 10% to N11.25, and ABC Transport saw a 7.98% decline to N1.50 per share. Daar Communications and Guinea Insurance also reported substantial losses of 7.46% and 7.35%, respectively. Royal Exchange ended at 75k, down by 7.32%.
Conversely, several stocks performed positively, most notably Livestock Feeds, which surged by 9.93% to N9.85. Cornerstone Insurance followed with a 9.25% increase, closing at N3.19. Other gainers included International Energy Insurance at N1.94 (up 8.99%) and Smart Products Nigeria at 39k (up 8.33%). Lasaco Assurance also saw a notable rise of 7.55%, closing at N2.85.
The trading volume on Tuesday amounted to 324.59 million shares worth N7.918 billion across 12,652 transactions, a decrease from the previous day’s figures of 364.97 million shares valued at N17.628 billion across 14,565 transactions. Fidelity Bank led the activity chart with 29.387 million shares exchanged, worth N502 million, followed closely by Access Corporation and Guaranty Trust Holding Company.
In summary, the Nigerian stock market faced a downturn on Tuesday, indicated by a 0.43% drop in both market capitalisation and the All-Share Index. Notable losses were reported among several stocks, while a handful of companies demonstrated gains. Trading activity has also seen a decrease in both volume and value in comparison to the previous session, signaling a cautious sentiment among investors.
Original Source: www.premiumtimesng.com
