The Nigerian equities market experienced a bearish shift on Tuesday, leading to a ₦286 billion loss for investors. Significant declines were noted in major stocks, while some companies showed positive growth. The overall market capitalization fell, showcasing increased trading activity amid fluctuating stock values.
The Nigerian equities market has reverted to a bearish trend, resulting in a loss of ₦286 billion for investors at the close of trading on Tuesday. This decline was primarily attributed to the losses in share prices from companies like ABCTRANS, DAAR COMMUNICATIONS, and GUINEA INSURANCE. The market capitalization fell from ₦66.7 trillion to ₦66.4 trillion, and the All-Share Index dropped from 106,621.91 points to 106,164.64 points.
On this trading day, a total of 23 stocks advanced, while 29 stocks declined, and 71 stocks remained unchanged across 12,466 transactions. Notably, LIVESTOCK, CORNERST, and INTENEGINS emerged as the top gainers, with price increases of 9.93%, 9.25%, and 8.99%, respectively. Their shares closed at N9.85, N3.19, and N1.94, contrasting with previous closing prices of N8.96, N2.92, and N1.78 per share.
Conversely, the primary decliners included ABCTRANS, DAAR COMMUNICATIONS, and GUINEA INSURANCE, experiencing drops of 7.98%, 7.46%, and 7.35%. Their shares were priced at N1.50, N0.62, and N0.63, compared to the prior values of N1.63, N0.67, and N0.68 respectively.
In terms of volume, FIDELITY BANK led with 29 million shares traded in 456 transactions, followed closely by ACCESS CORP with 28 million shares across 750 transactions. GTCO also contributed significantly with the trading of 28 million shares in 340 deals.
On the value index, GTCO reported a trading value of N1.6 billion through 340 transactions, while ZENITH BANK recorded N1 billion in 850 deals. ACCESS CORP’s trades amounted to shares valued at N680 million in 750 transactions.
The Nigerian equities market’s recent downturn has resulted in significant investor losses, driven by declines in key stocks. With notable gainers and decliners amidst mixed market breadth, the trading volume and value highlight active investor engagement. Overall, the current sentiment reflects volatility, necessitating close monitoring of market movements as conditions evolve.
Original Source: www.ripplesnigeria.com
