Nigerian Equity Market Loses N590 Billion in Capitalization

On Tuesday, the Nigerian equity market faced a bearish run, resulting in a loss of N590 billion in market capitalization, which decreased by 0.48% to N121.552 trillion from the previous day's N122.142 trillion. The NGX share index depreciated by 960.33 basis points, closing at 189,321.24 points, down from 190,281.57 points.

Despite the overall market decline, there were 44 advancers against 40 decliners. ABC Transport led the gainers with a 9.94% increase, closing at N9.07 per unit, followed closely by Japaul Gold, which rose by 9.78% to close at N3.03 per share.

Conversely, three companies, including Zenith Bank and Mercur Skyavn, recorded declines of 10%, closing at N93.60 and N117.00 per share, respectively. Trading volume reached 137 million shares, representing a 12.96% increase, while the total value of trades settled at N60.193 billion, down by 4.44% from the previous day.