Nigerian Exchange Loses N3.281 Trillion Amid Stock Decline
The Nigerian Exchange experienced a notable decline, with the All-Share Index (ASI) falling by 5,052.22 points, or 1.98 percent, from 254,762.81 to 249,710.59 points. This drop resulted in a market capitalisation loss of N3.281 trillion, primarily driven by selling pressure in heavyweight stocks such as DANGCEM (-10.00%), PRESCO (-10.00%), and UACN (-7.85%).
Market breadth was negative, with 20 equities advancing and 36 declining. Trading activity saw a 55.04 percent increase, totaling 856.28 million shares valued at N74.09 billion across 33,540 deals.
FIRSTHOLDCO (NGX: FIRSTHOLDCO) led with 478.42 million units traded, accounting for 55.87 percent of the day's volume and valued at N44.94 billion. All sector indices closed lower, with industrial stocks suffering the most, down 7.14 percent.
The losses reversed a previous positive trend, where the benchmark index had gained 0.19 percent and market capitalisation increased by N308 billion.
Plus234Feed summary based on reporting from Daily Trust. Read the original report below.
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