Trading on the Nigerian Exchange closed lower, with equity value slipping for a second straight session and market breadth remaining skewed toward declines. Market capitalisation fell by 0.50% to N155.203 trillion, down from N155.985 trillion in the prior session, while the All-Share Index dropped by 1,219.93 points (0.50%) to finish at 241,984.80, compared with 243,204.73 previously.
Market performance and breadth
The year-to-date gain moderated to 55.50%. However, sentiment weakened as the distribution of movers ended in negative territory, with 37 stocks declining against 20 advancing.
Top decliners
Vitafoam and International Energy Insurance were the biggest drags on the session, each sliding by 10% to close at N189 and N5.76 per share, respectively. Other notable losers included Austinlaz, which fell by 9.93% to N3.90; Sunu Assurances, down 9.82% to N3.58; and Sovereign Trust Insurance, which depreciated by 8.37% to close at N2.30 per share.
Top gainers
On the upside, Conoil and Prestige Assurance both rose by 9.79%, settling at N213 and N1.57 per share, respectively. Neimeth Pharmaceuticals and Cornerstone Insurance also finished higher, helping offset some of the losses seen across the board.
Trading activity eases
Activity cooled during the session. Total traded volume declined by 28.11% to 535.53 million shares, with the value of shares traded dropping to N36.84 billion across 55,123 deals.
Sterling Nigeria topped turnover by volume, with 100.90 million shares exchanged, representing 18.84% of the day’s total share count. By value, UAC of Nigeria led, recording trades worth N9.12 billion, accounting for 24.74% of the total value traded.
- Stocks moved lower on Tuesday, extending a downward pattern seen in recent sessions.
- The day’s decline marked the third consecutive depreciation since last Friday.
