Local Equities Market Declines by N24 Billion Amid Losses

On September 26, the local equities market experienced a decline, closing lower by N24 billion. The NGX All Share Index fell by 36.024 basis points, settling at 252113.41 points, down from 252150.50 points reported the previous day.

Despite a positive market breath with 39 advancers against 27 decliners, the year-to-date return stood at 62.01 percent. The negative performance was primarily driven by losses from Total Plc, which dropped by 10.00 percent to close at N518.40 per unit, FirstHoldco, which dipped by 5.09 percent to N156.60 per share, and UBA.

In contrast, Zichis led the gainers with a 10 percent increase to N16.60 per unit. The trading volume decreased by 269.435 million shares, a 27.54 percent drop, with a total of 708.850 million shares traded.

However, the value of transactions rose by 16.32 percent to N58.350 billion, with Fidelity Bank leading market activities.