On Tuesday, equities trading at the Nigerian Exchange Limited (NGX) reversed the previous day’s gain as the All-Share Index (ASI) fell by 353.51 basis points, ending at 99,311.54 basis points.
This downward trend at the local bourse was largely due to poor performances by major financial companies.
Accordingly, the Month-to-Date and Year-to-Date returns printed -5.0 per cent and +32.8 per cent, respectively.
Equities investors, therefore lost N200 billion cumulatively, settling at N56.167 trillion from a previous N56.367 trillion.
On the performance board, Sunu Assurance and Learn Africa led the gainers’ chard with an impressive 10 per cent rise in their stock prices, surpassing 16 other stocks.
On the flip side, Honeywell Flour Mills led the decline among 25 stocks, with its share price falling by 9.89 per cent.
Although Transnational Corporation topped the charts in terms of trading volume and value, the total number of trades for the day experienced a drop, closing with 7,324 transactions compared to the 8,298 deals recorded in the previous session.
Despite a downturn in trading activities, the market saw a substantial 87.34 percent surge in trade volumes, adding 267.81 million shares and reaching a total of approximately 574.43 million shares traded. This is a notable increase from the 306.62 million shares in the prior session.
Leading the volume was Transnational Corporation with 1.26 billion shares, with UPDCREIT not far behind at 1.21 billion shares. Other significant volumes were recorded by United Bank for Africa at 55.49 million shares, Access Corporation at 51.47 million, and Universal Insurance at 50.84 million shares.
In terms of trade value, there was a 47.95 percent rise, totaling N7.84 billion, up from N5.301 billion in the last session, reflecting a N2.54 billion increment.
Transnational dominated trade values as well, with N1.89 billion in trade. They were followed by United Bank for Africa with N1.28 billion, Access Corporation with N833.25 million, Zenith Bank with N798.73 million, and Nestle Nigeria with N676.04 million.
