Domestic Equities Market Declines by N599 Billion

On Tuesday, the domestic equities market experienced a significant decline, shedding N599 billion as bearish trends dominated trading activities. The market capitalization of listed equities decreased by 0.38 percent, falling from N158.614 trillion to N158.015 trillion.

The NGX All Share Index dropped by 927.70 basis points, closing at 244,802.83 points, down from 245,730.53 points recorded on the previous day. The market breadth was negative, with 13 stocks advancing while 40 stocks lost value, resulting in a year-to-date return of 57.32 percent.

Ava Capital led the gainers with a 9.94 percent increase, closing at N9.95 per unit, followed by NReit at N113.00 per share, and Livestock at N8.65 per unit. Conversely, Multiverse and Living Trust Insurance topped the losers, each dropping by 10 percent to close at N22.95 and N3.42 respectively.

Trading volume increased by 636.990 million shares, while the value of trades declined by 24.37 percent to N28.626 billion, with Japaul Gold leading market activities.