The Nigerian stock market declined by 0.43% on Tuesday, with market capitalization dropping by N285 billion to N66.484 trillion. The All-Share Index fell by 454 points, closing at 106,167.75. The market breadth showed 31 losers and 23 gainers, with varied performances among individual stocks.
On Tuesday, the Nigerian stock market experienced a downturn, seeing a decline of 0.43 percent in its performance indices. The market capitalization of the Nigerian Exchange Ltd. (NGX) decreased by 285 billion Naira, falling from 66.769 trillion Naira to 66.484 trillion Naira. The All-Share Index also dropped by 454 points, closing at 106,167.75, compared to the previous day’s figure of 106,621.91.
The market breadth was negative, with 31 companies reporting losses against 23 gainers. Among the significant decliners, Mecure Industries experienced a decline of 10 percent, closing at 11.25 Naira. ABC Transport fell by 7.98 percent to end at 1.50 Naira per share, while Daar Communications and Guinea Insurance dropped by 7.46 percent and 7.35 percent, respectively.
On the other hand, notable gainers included Livestock Feeds, which surged by 9.93 percent to close at 9.85 Naira, and Cornerstone Insurance, which gained by 9.25 percent, closing at 3.19 Naira. International Energy Insurance and Smart Products Nigeria recorded increases of 8.99 percent and 8.33 percent, respectively. Lasaco Assurance also rose by 7.55 percent, closing at 2.85 Naira per share.
During the trading session, approximately 324.59 million shares valued at 7.918 billion Naira were exchanged over 12,652 transactions, a reduction from the previous day’s volume of 364.97 million shares worth 17.628 billion Naira exchanged across 14,565 transactions. Fidelity Bank led in trading activity, with 29.387 million shares worth 502 million Naira transacted. Access Corporation and Guaranty Trust Holding Company followed suit with significant volumes as well.
The Nigerian stock market faced a challenging day on Tuesday as key performance indicators reflected a downward trend. With significant losses reported in various sectors, particularly among notable companies, investor confidence appeared to wane. Conversely, a select group of shares demonstrated resilience, gaining amidst the broader market decline. Overall, the market’s fluctuations underscore the volatility inherent within the investment landscape.
Original Source: www.premiumtimesng.com
