March 11, 2025
Market capitalization dropped by more than N284 billion at the he Nigerian Exchange, NGX, as sell-side actors offloaded more stocks in the local bourse. The Nigerian equity market closed trading session in the red, with key market performance indicators dropping by 0.43% due to a mild recovery on Monday.
The sell pressure marks a reversal of the Monday’s gains, driven by profit-taking activities in some medium- and large-cap stocks. According to trading records from the local bourse, the All-Share Index dropped by 454.16 basis points to close at 106,167.75.
Tuesday’s Equities market activities declined as the total volume of exchange decreased by 11.06% while total value traded dropped by 55.08%, stockbrokers said. Approximately 324.59 million units valued at ₦7,918.12 million were transacted across 12,652 deals in the equities market, Atlass Portfolios Limited told investors that in a note.
Fidelitybank, led the activity chart in terms of volume, accounting for 9.07% of the total volume of traded in the market followed by Accesscorp, 8.75%, GTCO, 8.66%, Zenithbank, 6.90% and Universal insurance, 5.00%.
READ MORE; Nigeria Stock Exchange Market Rebounds with N216bn Gain .
GTCO emerged as the most traded stock in value terms, accounting for 21.27% of the total value of all transaction conducted on the exchange while LIVESTOCK topped the advancers’ chart for Tuesday with a price appreciation of 9.93 percent, followed by CORNERST, +9.25%, INTENEGINS, +8.99%, SMURFIT, +8.33%, LASACO, +7.55%, SOVRENINS, +6.00%, and sixteen others.
According to data from the Nigerian Exchange, thirty-one stocks depreciated, MECURE was the top loser, with a price depreciation of – 10.00%. Other losers include DAARCOMM -7.46%, MTNN, -4.22%, AFRIPRUD, -2.90%, FIDELITYBK, -2.57% and ACCESSCORP, -1.84%. The market breadth closed negative, recording 22 gainers and 31 losers.
Tuesday, sectoral performance was negative due to the massive sell-down experience across counters. Data from the Nigerian bourse, showed that three out of the five major market sectors were down.
The consumer goods sector also dropped by 0.28%, followed by the banking sector, which dropped by 0.21%, and the oil & gas sector declined by 0.03%. while the insurance sector grew by 0.87% and the industrial sector closed unchanged.
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In all, thel market capitalisation of the Nigerian Exchange lost ₦284.41 billion to close at ₦66.48 trillion.
