The Nigerian equities market took a hit on Tuesday, shedding N326 billion as the market capitalisation fell from N89.524 trillion to N89.198 trillion. The All-Share Index (ASI) also dropped by 568.62 points, closing at 140,929.60.
The dip was largely driven by profit-taking in major stocks such as Dangote Sugar (-10%), Wema Bank (-8.27%), Secure Electronic Technology (-6.25%), Access Corp (-4.98%), and Aradel Holdings (-4.76%).
However, the session wasn’t all red:
- Thomas Wyatt rose by 9.80%
- Chellaram gained 9.59%
- RT Briscoe added 9.50%
- Custodian Investment went up 9.40%
- NGX Group climbed 6.99%
Despite the dip, market activity surged:
- 759.1 million shares worth N25.7 billion were traded in 23,657 deals, up from 488.5 million shares (N13.7bn) in 28,621 deals the day before.
Top traded stocks by volume:
- Consolidated Hallmark – 169.6m shares
- Zenith Bank – 104.4m shares
- FirstHoldCo – 100.9m shares
- Fidelity Bank – 52.5m shares
- GTCO – 45m shares
