The Nigerian Exchange Limited recorded a further decline in market indices on Tuesday, falling 1.2 percent amid persistent negative investment sentiment. The NGX All‑Share Index dropped 626.14 points, or 1.2 percent, closing at 53,124.63 compared with Monday’s 53,750.77. Consequently, the year‑to‑date gain narrowed to 3.7 percent. Market capitalisation also fell, shedding N341 billion (1.2 percent) to end the session at N28.940 trillion, down from N29.281 trillion in the previous trade.
The downtrend was driven by profit‑taking in medium‑ and large‑cap stocks, notably MTN Nigeria and Dangote Cement. Despite the overall weakness, market sentiment remained positive, with 16 gainers versus nine losers. PZ led the gainers, rising 9.62 percent to N11.40 per share. International Energy Insurance followed with a 9.42 percent increase to N1.30, while Multiverse Mining and Exploration climbed 8.72 percent to N3.24 per share. FTN Cocoa Processors gained 7.69 percent to N28,000, and Regency Alliance Insurance rose 6.9 percent to N31,000 per share.
Among the losers, Chams topped the decline chart, falling 8 percent to N23,000 per share. UACN dropped 5.76 percent to N9, while MTN Nigeria decreased 4.29 percent to N223 per share. Dangote Cement slipped 4.17 percent to N276,000, and Fidson Healthcare fell 2.95 percent to N9.55 per share.
Trading volume contracted sharply, with a 101 percent decrease as investors bought and sold 202.85 million shares valued at N2.05 billion across 3,071 deals. The most active stock was Transcorp, with 61.49 million shares traded, worth N85.31 million. Fidelity Bank accounted for 26.96 million shares worth N139.04 million, Custodian & Allied Plc handled 19.97 million shares valued at N121.8 million, Sterling Bank sold 18.65 million shares worth N29.37 million, and Guaranty Trust Holding Company transacted 11.74 million shares worth N291.14 million.
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