The Nigerian Exchange (NGX) recorded another bearish session on Tuesday, as market capitalisation shed ₦623 billion to settle at ₦87.783 trillion, compared to ₦88.406 trillion on Monday.
Similarly, the All-Share Index (ASI) fell by 984.55 points or 0.71%, closing at 138,737.64, against the previous day’s 139,722.19. The decline was largely driven by persistent selloffs in AIICO Insurance, Prestige Assurance, Wema Bank, Consolidated Hallmark Holdings, Ellah Lakes, and 44 other equities.
The market breadth closed deeply negative with 49 losers against only 11 gainers. AIICO Insurance, Prestige Assurance, Wema Bank, and Consolidated Hallmark Holdings all plunged by 10% each, ending at ₦3.42, ₦1.62, ₦20.70, and ₦3.87 per share, respectively. Ellah Lakes also dipped 9.93% to settle at ₦11.43.
On the gainers’ chart, NCR Nigeria led with a 9.96% rise to ₦12.70 per share, followed by Austin Laz, which climbed 9.66% to ₦3.18. Tantalizer gained 6.09% to close at ₦2.44, while Multiverse Mining appreciated 5.50% to ₦11.50. Deap Capital also advanced 4.68% to ₦1.79.
A total of 407.6 million shares valued at ₦39.9 billion were traded across 31,406 deals, compared to Monday’s 407.9 million shares worth ₦14.78 billion exchanged in 33,859 deals. GTCO led trading activity with 32.6 million shares valued at ₦3.02 billion, followed by Access Holdings with 29.8 million shares worth ₦775.2 million.
AIICO Insurance exchanged 21.8 million shares worth ₦76.6 million, while Ellah Lakes recorded 20.5 million units valued at ₦235.9 million. Sovereign Trust Insurance also saw 20.4 million shares worth ₦56.5 million traded.
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