Nigerian Stock Market Sees Decline with 0.33% ASI Drop

The Nigerian Exchange Limited experienced a downturn in trading on Tuesday, resulting in a 0.33% decrease in the All-Share Index, closing at 101,707.70 basis points. This led to a collective loss of N183.10 billion for equities investors, with market capitalization settling at N55.65 trillion by the end of trading. A total of N263.19 billion shares valued at N4.30 billion were traded in 8,614 deals. Veritas Capital dominated the volume chart with N49.07 million units traded, while United Bank for Africa led in value with deals worth N587.50 million. In terms of individual stock performance, Honeywell Flour Mills and Cornerstone Insurance topped the gainers’ list with a 9.9% increase in share prices. Conversely, PZ Cusson Nigeria and Morrison were among the top losers, with a 9.9% and 9.8% depreciation in share value, respectively. Sector analysis revealed a 1.9% decline in the Banking index, along with a 0.2% drop in the Consumer Goods index and a 0.1% decrease in the Industrial Goods index. However, the Insurance and Oil & Gas indices saw positive movements, advancing by 1.1% and 0.1% respectively.