Nigeria’s equities market reversed its recent gains on Tuesday, shedding about ₦888 billion in market value as investors took profits ahead of the Eid-el-Kabir holiday.
Market capitalisation declined by 0.55 per cent to close at ₦160.094 trillion, down from ₦160.982 trillion recorded in the previous session. The Nigerian Exchange All-Share Index also dropped by 1,386.18 points to settle at 249,738.84.
The downturn was largely driven by sell-offs in major and mid-cap stocks, outweighing buying interest across the market. Year-to-date returns moderated to 60.49 per cent, while market breadth remained negative with 38 decliners against 19 gainers.
Among the losers, Dangote Sugar Refinery Plc led with a 10 per cent drop, followed by Transcorp Power Plc and The Initiates Plc. Abbey Mortgage Bank Plc and Fidelity Bank Plc also recorded notable losses.
On the gainers’ side, FGN Savings Bond FG212035S1 topped the chart, while McNichols Plc, Austinlaz & Company Plc, International Energy Insurance Plc, and Learn Africa Plc posted gains.
Trading activity weakened, with total volume declining by 10.38 per cent to 564.07 million shares valued at ₦27.22 billion across 65,666 deals.
Access Holdings Plc led the volume chart, while Zenith Bank Plc recorded the highest value of transactions for the day.
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