By Niyi Jacobs
The Nigerian stock market experienced a significant decline on Tuesday, with equities investors losing over N371 billion due to selloffs in major stocks such as BUA and GTCO. The market’s key performance indicators tumbled by 0.67%, with the Nigerian Exchange All-Share Index declining by 653.89 basis points to close at 96,928.52. Despite the bearish trade, market activities closed in the green, with total volume and total value traded increasing by 38.56% and 8.32%, respectively.
Key Points:
- Market decline: The Nigerian stock market lost N371 billion due to selloffs in major stocks such as BUA and GTCO.
- Key performance indicators: The market’s key performance indicators tumbled by 0.67%.
- Nigerian Exchange All-Share Index: The index declined by 653.89 basis points to close at 96,928.52.
- Bearish trade: Despite the bearish trade, market activities closed in the green.
- Total volume and total value traded: Increased by 38.56% and 8.32%, respectively.
- Top gainers: UBA, OANDO, and ACADEMY topped the gainers’ chart with price appreciation ranging from 3.45% to 10%.
- Top losers: BUACEMENT, THOMASWY, and CHAMPION were the top losers, with price depreciation ranging from -3.70% to -9.99%.
- Sectoral performance: The Industrial Goods and Oil & Gas indices closed in the negative territory, while the Consumer Goods, Insurance, and Banking indices closed in the green.
