The Nigerian Exchange (NGX) witnessed a market capitalisation decline of ₦116 billion on Tuesday as investors offloaded shares in MTN Nigeria, International Breweries Plc, and other relatively smaller stocks, triggering a market downturn.
The sell-offs in several large- and mid-cap equities dragged the market despite a broadly positive market breadth, resulting in a 0.17% decline in the main performance indicators, effectively erasing the gains recorded in the preceding session.
Major laggards included LIVESTOCK, MTNN, FTNCOCOA, INTBREW, among others—collectively accounting for the ₦116 billion erosion in investor wealth.
According to trading data published by the NGX, the All-Share Index (ASI) dropped by 185 basis points to settle at 105,931.18 points. Market activity, however, spiked, with total traded volume and value increasing by 46.44% and 191.37%, respectively.
In its market report, Atlass Portfolio Limited stated that approximately 733.05 million units of shares worth ₦35.29 billion were exchanged in 16,619 deals during the session.
FIDELITYBK led the volume chart, accounting for 38.92% of total trading volume. It was followed by MTNN (11.85%), ACCESSCORP (4.85%), UNIVINSURE (4.07%), and GTCO (3.89%).
In terms of value traded, MTNN was the dominant stock, representing 59.33% of the total transaction value. On the gainers’ list, LEGENDINT topped with a 10.00% price appreciation.
Other notable advancers included ABCTRANS (+9.94%), CADBURY (+9.91%), CHAMPION (+9.79%), ETERNA (+9.46%), MAYBAKER (+9.26%), alongside 26 other stocks that posted gains.
Conversely, 20 equities declined, with LIVESTOCK topping the losers’ chart, having shed 9.71% of its market value. Other significant decliners included MULTIVERSE (-9.62%), MCNICHOLS (-9.47%), MTNN (-6.07%), FTNCOCOA (-5.24%), and VERITASKAP (-3.45%).
Stockbrokers noted that the market breadth closed on a positive note with 32 gainers and 20 losers. Sectoral performance was broadly favourable, with the banking index (+1.30%) seeing the strongest momentum, fuelled by advances in ZENITHBANK (+2.91%), UBA (+2.19%), ACCESSCORP (+1.48%), and GTCO (+1.19%).
The consumer goods index rose by 0.48% on the back of demand for Nigerian Breweries (+5.93%), while the oil and gas sector edged higher by 0.09%, driven by gains in ETERNA (+9.46%).
On the downside, the insurance index dropped by 0.54%, primarily due to selloffs in SUNUASSUR (-5.77%). Both the industrial goods and commodity indexes remained flat. At the end of the session, the total market capitalisation of listed equities on the Nigerian Exchange fell to ₦65.58 trillion.
 witnessed a market capitalisation decline of ₦116 billion on Tuesday as investors offloaded shares in....){kind=link}