Investors’ market value was negatively affected by the decline in several heavyweight stocks, resulting in a negative closing for the Nigerian stock market.
The NGX All-Share Index (ASI) experienced a 0.5% decline of 118.66 points, ending in 0.05%, at 247,238.74 points by the end of trading. As a result, the market capitalisation was N159.511 trillion.
Several major stocks, including Transcorp Power, Fidson Healthcare, BUA Cement, Nigerian Aviation Handling Company and NEM Insurance suffered losses in the market. The market experienced a decline, with 32 stocks experiencing losses and 27 showing upside.
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Chart: Thomas Wyatt Nigeria climbed 9.92 per cent to close at N3.99 the share, topping the gainers chart. The shares of Lasaco Assurance and Critical Minerals Financing Corporation rose by 9.89 per cent to N2.00, while Critical Mining Finance increased by 1.8% to reach N3.45.15.
Chams Holding Company experienced a 7.78 per cent increase in value, resulting in ‘Chams holding’ company earning N4.85 and Nigerian Exchange Group getting 6.96 per share at N158.30.
However, the losers were Sunu Assurance and Transcorp Power as they both fell by 10 per cent to close at N3.24 and N219.60.
International Breweries lost 9.85 per cent to N1235, and Neimeth International Pharmaceuticals lost $9.78 percent to the same number at N8.00. A 9.64% decrease in shares of Austin Laz & Company brought them to N3.28 per share.
Trading in session, although the market was down but. In a 3.81 per cent increase from the previous trading day, there were 71,240 deals in which 637.96 million shares were traded, totaling N57.202 billion.
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With 47.58 million shares worth N1.369 billion, Access Holdings was the most traded stock by volume. FCMB Group followed with 40.33 million shares worth N478.246 million, while First Holdco reported 34.20 million share trades valued at N4.248 billion.
Trading activity was robust at 33.15 million shares (N372.208 million) traded by Champion Breweries, while Zenith Bank traded 25.44 Million shares worth N3.228 billion.
Investors’ caution remains evident in the latest market performance, as profit-taking in major stocks outperformed gains in several mid- and small-cap equities.
