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Investors face N49 billion loss as stock market continues downward trend

Nigerian Stock Market

Nigerian Equity Market

The Nigerian stock market continued its decline on Tuesday as investor sentiment drove sales in banking, consumer goods, and industrial sectors.

Nigeria Exchange Ltd. (NGX) witnessed a decrease in market capitalisation by N49 billion or 0.09%, closing at N56.126 trillion from an opening of N56.175 trillion.

The All-Share Index also fell by 0.09% or 87 points to end at 99,217.60, down from Monday’s 99,304.12, bringing the Year-To-Date (YTD) change to 32.69% lower.

Key stocks like Zenith Bank, United Bank For Africa (UBA), Access Corporation, Dangote Sugar, Honeywell Flour, and Nigerian Breweries experienced significant sell-offs, contributing to the market’s downturn.

Despite this, market breadth showed positivity with 27 gainers and 23 losers. Okomu Oil led the gainers with a 10% increase to N291.50 per share, followed by John Holt rising 9.79% to N3.14, and Consolidated Hallmark Holdings gaining 9.43% to N1.74.

Conversely, Oando recorded the highest decline among losers, dropping 9.75% to N12.50, followed by UPL falling 9.09% to N2.50.

Trading activity decreased by 68.09% compared to the previous session, with 361.57 million shares valued at N6.16 billion exchanged in 8,511 transactions.

Transnational Corporation led by volume with 47.51 million shares, while GTCO topped by value with 37.85 million shares worth N1.65 billion traded.

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