The Nigerian stock market extended its downward trend on Tuesday, with investors recording a significant loss of ₦183 billion in total market value.
Specifically, the Nigerian Exchange Ltd. (NGX) saw its market capitalisation fall to ₦72.497 trillion, down from ₦72.680 trillion recorded on Monday.
The All-Share Index (ASI) declined by 348.61 points or 0.30 per cent, closing at 114,910.16 compared to 115,258.77 in the previous trading session.
The downturn was largely attributed to price depreciation in the shares of Transcorp Power, Oando, Ellah Lakes, Omatek, Custodian Investment, and 30 other listed companies.
Market breadth closed negative, with 35 equities declining while 29 posted gains at the end of trading.
Transcorp Power Plc led the losers’ chart, dropping 9.98 per cent to close at ₦295.70 per share. Oando Plc followed with a 9.97 per cent fall, ending at ₦58.25, while Ellah Lakes shed 9.87 per cent to finish at ₦4.29.
Omatek declined by 9.33 per cent, closing at 68k per share, and Custodian Investment Plc lost 8.63 per cent, settling at ₦22.75.
On the gainers’ chart, C&I Leasing rose by 10 per cent to close at ₦4.62, while Learn Africa also appreciated 10 per cent to reach ₦4.18.
Mutual Benefits Assurance gained 10 per cent, closing at ₦1.10, and University Press rose 9.82 per cent to end at ₦5.48. Deap Capital Management also advanced by 8.64 per cent, finishing at 88k per share.
Total market turnover stood at 787.31 million shares valued at ₦25.67 billion, traded across 23,170 deals. This marked an increase from 721.75 million shares worth ₦22.01 billion exchanged in 22,100 transactions on Monday.
Zenith Bank led the activity chart, trading 96.23 million shares worth ₦4.25 billion. Guaranty Trust Holding Company (GTCO) followed with 83.36 million shares valued at ₦6.24 billion, while United Bank for Africa (UBA) sold 65.16 million shares for ₦2.11 billion.
Access Corporation recorded 64.21 million shares worth ₦1.30 billion, and Ecobank Transnational Incorporated traded 51.73 million shares valued at ₦1.57 billion.
