On Tuesday, the local stock market extended its decline as the All-Share Index fell by 0.25 percent to 107,671 basis points.
This drop also triggered a 0.25 percent decrease in the market capitalization of listed equities, reducing it to N67.18 trillion and wiping out N166 billion from investors’ portfolios.
Consequently, the Month-to-Date and Year-to-Date returns printed +3.0 percent and +4.6 percent, respectively.
The overall downturn led to negative market breadth, with 40 stocks declining against 16 gainers.
Leading the advancers were Consolidated Hallmark, Sunu Assurance Nigeria, Neimeth International Pharmaceutical, Cornerstone Insurance and Wapic Insurance.
Meanwhile, the biggest losers included The Initiates, Union Diacon Salt, UACN Property Development Company, Cadbury Nigeria and Royal Exchange, having depreciated in share value respectively by 9.89 percent, 9.82 percent, 9.09 percent, 9.06 percent and 7.07 percent.
Bearish sentiment prevailed across multiple sectors, with the Banking sector suffering the steepest decline of 1.02 percent, followed by Consumer Goods, which fell 0.39 percent.
The Oil & Gas and Industrial Goods sectors also declined by 0.24 percent and 0.18 percent, respectively.
In contrast, the Insurance sector provided some stability, gaining 2.63 percent, while the Commodity sector remained unchanged.
Trading activity was subdued, with the number of deals, trading volume, and value declining by 17.09 percent, 20.03 percent, and 12.07 percent, respectively.
In total, 408.72 million shares worth N11.26 billion were traded across 14,174 transactions.
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