KEY POINTS
- Market capitalisation fell by ₦144 billion to ₦160.708 trillion as the All-Share Index declined by 0.09 per cent.
- Etranzact led the gainers with a 9.96 per cent increase, while Legend Internet topped the losers with a 6.85 per cent decline.
- Trading volume dropped by 2.76 per cent to 394.20 million shares, although market breadth remained positive.
MAIN STORY
The Nigerian stock market shed ₦144 billion on Tuesday as declines in 21 equities dragged the All-Share Index (ASI) down by 0.09 per cent, despite more stocks closing higher than lower.
Market capitalisation fell to ₦160.708 trillion from ₦160.852 trillion recorded on Monday, representing a loss of ₦144 billion.
The ASI, which measures the overall performance of equities listed on the Nigerian Exchange, declined by 222.61 points to close at 247,513.63, compared with 247,736.24 in the previous session.
The decline reduced the market’s year-to-date return to 59.06 per cent.
Despite the overall loss, market breadth remained positive, with 24 equities gaining against 21 losers.
Etranzact led the gainers, appreciating by 9.96 per cent to close at ₦14.35 per share. WAPIC followed with a 7.83 per cent increase to ₦2.48, while Daar Communications gained 7.25 per cent to close at ₦1.48 per share.
Livestock Feeds rose by 6.92 per cent to ₦15.45, while Chams advanced by 5.88 per cent to ₦3.60 per share.
On the losing side, Legend Internet recorded the steepest decline, shedding 6.85 per cent to close at ₦3.40 per share.
Omatek Ventures fell by 6.43 per cent to ₦1.31, while Secure Electronic Technology declined by 5.71 per cent to 66 kobo per share.
Mutual Benefits Assurance lost 5.49 per cent to close at ₦3.10, while AIICO Insurance dropped by 4.39 per cent to ₦3.92 per share.
Trading activity also weakened during the session. Total volume declined by 2.76 per cent to 394.20 million shares, valued at ₦21.38 billion across 38,707 deals.
Access Corporation led trading by volume, with 57.02 million shares exchanged, accounting for 14.46 per cent of the total volume traded.
GTCO recorded the highest transaction value at ₦3.13 billion, representing 14.63 per cent of the day’s total traded value.
THE ISSUES
The market’s decline shows that gains in a larger number of equities did not translate into an overall increase in market value. The direction of the benchmark index depends on the combined price movements of listed stocks, with larger companies potentially exerting greater influence on its performance.
The fall in trading volume also indicates that fewer shares changed hands compared with the previous session, although the figures alone do not establish whether investors were becoming more cautious or simply adjusting their portfolios.
For investors, the positive year-to-date return of 59.06 per cent provides broader context for Tuesday’s decline. However, daily market movements and individual stock performance remain important when assessing portfolio exposure and investment decisions.
WHAT’S NEXT
Investors will monitor subsequent trading sessions for signs of whether the decline in the benchmark index continues, whether trading activity strengthens and how individual equities perform.
The direction of market capitalisation and the balance between advancing and declining stocks will also help show whether the latest session represents a brief setback or a more sustained change in market momentum.
BOTTOM LINE
The Nigerian stock market lost ₦144 billion on Tuesday, with the ASI falling by 0.09 per cent even as gainers outnumbered losers. Trading activity weakened, while the market retained a year-to-date return of 59.06 per cent.
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