The equities market lost N326bn on Tuesday as profit-taking in major stocks dragged the All-Share Index and market capitalization lower.
The Nigerian equities market closed lower on Tuesday, wiping out N326 billion in value as investors engaged in profit-taking across major stocks.
Market capitalisation fell by 0.4 percent to N89.198 trillion from N89.524 trillion, while the All-Share Index (ASI) declined by 568.62 points to 140,929.60, compared to 141,498.22 on Monday.
The downturn was driven by losses in Dangote Sugar, Wema Bank, Secure Electronic Technology, Access Corporation, Aradel Holdings and 30 others. Dangote Sugar led the losers’ table, shedding 10 percent to close at N54. Wema Bank followed with an 8.27 percent drop to N18.85, while Secure Electronic Technology fell by 6.25 percent to 75k.
Conversely, Thomas Wyatt Nigeria topped gainers, rising 9.80 percent to N2.80. Chellaram gained 9.59 percent to N16, and NGX Group advanced 6.99 percent to N58.95.
Market activity showed increased volume and value, with 759.1 million shares worth N25.7 billion traded in 23,657 deals. Consolidated Hallmark Holdings led activity with 169.6 million shares worth N644.7 million.
THIS WAS ORIGINALLY PUBLISHED ON VANGUARD