The Nigerian Exchange Limited witnessed its first decline since January 10th, 2024, with the All-share index dropping by 1.5% to close at 103,110.15 points on Tuesday, down from the previous day’s 104,674.67 points.
A significant number of sell-offs triggered this bearish trend, resulting in 61 stocks recording price losses, while only 7 recorded gains. The market capitalization also saw a decrease, with investors losing N857 billion, bringing it to N56.425 billion by the end of the trading day.
In terms of trading volume, there was a 6% decline to 649.95 million units compared to the previous day’s 689.93 million units. The trading value also experienced a 57% decline, dropping to N11.09 billion from N25.94 billion on the preceding day.
Detailed analysis revealed that only a few companies, including UPDC, GEREGU, and four others, recorded gains on Tuesday. On the contrary, NASCON, ACCESSCORP, STERLINGNG, and three other firms emerged as top losers after the day’s trading.
Furthermore, the overall sentiment for stocks valued over N1 trillion was negative, with ZENITHBANK (-7.14%) and GTCO (-6.29%) registering price declines, while GEREGU (+4.61%) recorded a price gain. Additionally, ACCESSCORP (-10.00%), UBA (-9.67%), DANGSUGAR (-9.74%), and TRANSCOHOT (-1.42%) experienced declines, causing their market capitalization to fall below the N1 trillion mark.
