Nigerian Stocks Lose ₦144 Billion Despite Positive Breadth

By Atlantic Reports

The Nigerian stock market lost ₦144 billion in value on Tuesday, with its benchmark index declining despite more stocks recording gains than losses.

Market capitalisation closed at ₦160.708 trillion, down from ₦160.852 trillion on Monday.

The All-Share Index fell by 222.61 points, or 0.09 per cent, to 247,513.63 from 247,736.24. The market’s year-to-date return consequently eased to 59.06 per cent.

Market breadth remained positive, with 24 gainers against 21 losers. The result shows that the number of advancing stocks alone did not determine the direction of the overall market.

Etranzact Leads Gainers

Etranzact recorded the largest percentage gain, rising 9.96 per cent to ₦14.35 per share.

WAPIC gained 7.83 per cent to close at ₦2.48, while Daar Communications advanced 7.25 per cent to ₦1.48.

Livestock Feeds rose 6.92 per cent to ₦15.45, and Chams gained 5.88 per cent to ₦3.60.

Legend Internet led the decliners, falling 6.85 per cent to ₦3.40.

Omatek Ventures shed 6.43 per cent to ₦1.31, while Secure Electronic Technology declined 5.71 per cent to 66 kobo.

Mutual Benefits Assurance lost 5.49 per cent to ₦3.10, and AIICO Insurance fell 4.39 per cent to ₦3.92.

Trading Volume Falls

Investors traded 394.20 million shares worth ₦21.38 billion in 38,707 deals. Share volume was 2.76 per cent lower than in the preceding session.

Access Corporation led by volume, with 57.02 million shares traded, representing 14.46 per cent of the total.

GTCO recorded the highest transaction value at ₦3.13 billion, accounting for 14.63 per cent of turnover.

The session ended with a modest benchmark decline and lower trading volume, while the positive breadth indicated that gains remained spread across more equities than losses.

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