Nigerian Equities Market Declines by N904 Billion

On Tuesday, the Nigerian domestic equities market returned to a bearish trend, shedding N904 billion in value. The market capitalization decreased by 0.58%, closing at N155.152 trillion, down from N156.056 trillion the previous day.

The NGX share index fell by 140.82 basis points to 24,1750.15 points from 24,3158.97 points. Despite a positive market breadth with 45 gainers against 26 decliners, heavyweight stocks such as MTN Nigeria and Guinness Nigeria Plc (NGX: GUINNESS) negatively affected market performance, bringing the year-to-date return down to -55.39%.

Notable gainers included McNichols (NGX: MCNICHOLS) Plc, RT Briscoe, and Zichi Agro, with increases of 10% each, while Guinness Nigeria Plc led the losers with a 10% decline. Trading volume decreased to 1.268 billion shares, a 9.88% drop, with a total transaction value of N75.225 billion, up by 29.74%.

FCMB Group (NGX: FCMB) led market activity with 156.826 million shares valued at N1.727 billion.