By Toyin Ajadi, Lagos
The Nigerian Equities Market saw a downturn on Tuesday as gains from the previous day’s trading session proved to be short-lived. The All-Share Index dropped by 1.99% to close at 60,714.80 points, a decrease of 1,234.20 points from the 61,949.24 points recorded on Monday. The market capitalization also experienced a decline, falling by N672 billion to close at N33.059 trillion compared to N33.731 trillion the day before.
The market sentiment followed suit, with 44 losers outnumbering the 33 gainers at the close of trading. A total of 1.1 million shares valued at N12.21 billion were traded in 12,194 deals throughout the day.
Amongst the gainers, Consolidated Hallmark Insurance led the pack with a 10% price gain, closing at N0.99k. Eterna followed closely with a 9.96% price gain, ending the day at N25.40k, while Chams recorded a 9.88% gain to close at 0.89k.
On the other hand, Lasaco Assurance suffered the largest loss of the day, dropping by 13.86% to close at N2.30k. PZ Cussons Nigeria came second with a 10% loss and a closing price of N20.70k, followed by Wema Bank with a 9.98% loss, closing at N5.23k.
In terms of trading volume, First City Monument Bank Group topped the chart with 181 million shares, followed by Sterling Bank with 108 million shares.
The Nigerian equities market continues to face fluctuating performances, with investors closely monitoring the situation for potential opportunities and risks.
Confidence Okwuchi
