Weak sentiment wipes N544bn off equity market value

Trading on the Nigerian Exchange Limited concluded on Tuesday with a bearish trend, as key market indicators continued their downward trajectory. The equity market capitalization contracted by N544 billion, closing at N155.97 trillion, down from N156.52 trillion recorded on Monday.

The All-Share Index also dropped by 843.42 points, settling at 241,611.23 compared to 242,454.65 the previous day. This decline reflects persistent selling pressure across most major market sectors. The NGX Main-Board Index, NGX 30 Index, NGX Premium Index, and NGX Banking Index all recorded significant dips. The NGX Consumer Goods Index and NGX Oil/Gas Index also closed lower, while the NGX Growth Index decreased. The NGX Insurance Index was a minor exception, posting a slight uptick.

In terms of trading activity, investors executed 35,625 trades involving 429.81 million shares. The Main Board dominated market volume, with 346.82 million shares exchanged across 20,316 deals. The Premium Board saw 66.90 million shares traded in 13,013 transactions.

Leading the price gainers was Haldane McCall Plc, which surged 9.97 percent to N3.20 per share. Veritas Kapital Assurance Plc gained 7.09 percent to N1.36, and Tantalizers Plc advanced 5.26 percent to N4.00. Conversely, red screens dominated the losers' table, with Red Star Express Plc dropping 10.00 percent to N16.20 per share, and Trans-Nationwide Express Plc tumbling 9.94 percent to N2.81.