The Nigerian equities market recorded a decline on Tuesday, shedding N311 billion in value. This downturn was driven by investors taking profits in medium and large-cap stocks following four consecutive sessions of gains.
Market capitalization fell by 0.33 per cent, settling at N93.658 trillion on Tuesday, down from N93.969 trillion recorded on Monday. Similarly, the All-Share Index (ASI) lost 487.66 points, or 0.33 per cent, closing at 146,940.29.
The year-to-date return eased to 42.76 per cent. Market breadth closed negative, with 34 stocks declining against 21 gainers.
Top Losers
Medium and large-cap stocks led the losses as investors locked in previous gains:
- Eterna and Austinlaz topped the losers’ chart, both recording 10 per cent declines. They closed at N31.95 and N2.07, respectively.
- Transcorp Hotel fell 9.95 per cent to N155.60 per share.
- Ikeja Hotel dropped 9.65 per cent to N28.10.
- UACN shed 9.09 per cent, ending the session at N88 per share.
Top Gainers and Activity
Conversely, a few stocks managed to post significant gains:
- Learn Africa led the gainers with a 9.57 per cent rise, closing at N6.30.
- Mecure followed with an 8.72 per cent gain, closing at N32.40.
- Deap Capital Management grew 7.50 per cent to N1.72 per share.
In terms of market activity, Etranzact recorded the highest trading volume and value, exchanging 1.03 billion shares worth N7.50 billion.
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