Equities market loses N782 bn amid sell‑offs

On Tuesday, the Nigerian stock market continued its downward trend, with investors losing N782 billion, the third straight session of net losses.

The decline was driven by widespread profit‑taking across sectors, including insurance, banking, consumer goods, industry and technology.

Market capitalisation fell 0.50 percent to N155.203 trillion, down from N155.985 trillion the previous day.

The All‑Share Index dropped 1,219.93 points, or 0.50 percent, to close at 241,984.80, compared with 243,204.73 the day before.

The year‑to‑date return slowed to 55.50 percent, while market breadth finished negative with 37 losers and 20 gainers.

Vitafoam and International Energy Insurance led the losers, each falling 10 percent to N189 and N5.76 per share, respectively.

Austinlaz fell 9.93 percent to N3.90, Sunu Assurances dropped 9.82 percent to N3.58, and Sovereign Trust Insurance declined 8.37 percent to N2.30 per share.

Conversely, Conoil and Prestige Assurance each rose 9.79 percent, closing at N213 and N1.57 per share.

Neimeth Pharmaceuticals grew 9.74 percent to N8.45, E‑Tranzact surged 9.40 percent to N16.30, and Cornerstone Insurance increased 9.09 percent to N5.40 per share.

Trading volume fell 28.11 percent to 535.53 million shares, worth N36.84 billion, across 55,123 transactions.

Sterling Nigeria was the most heavily traded stock by volume, with 100.90 million shares exchanged, representing 18.84 percent of the day’s total volume.

UAC of Nigeria led in value, with transactions worth N9.12 billion, accounting for 24.74 percent of the total value traded.

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