Nigerian Equity Market Loses N544bn Amid Bearish Trend

On Tuesday, the Nigerian equity market, under the Nigerian Exchange Limited, closed with a bearish performance, resulting in a contraction of market capitalization from N156.52 trillion to N155.97 trillion, a decrease of N544 billion. The All-Share Index fell by 843.42 points, closing at 241,611.23, down from 242,454.65.

Key indices also showed declines: the NGX Main-Board Index dropped to 10,892.14 points, the NGX 30 Index fell to 8,859.78 points, and the NGX Premium Index decreased to 28,487.84 points. The NGX Banking Index slid to 2,490.17 points, while the NGX Consumer Goods Index and NGX Oil/Gas Index closed at 4,049.97 and 5,201.49 points, respectively.

Trading activity involved 35,625 trades with 429.81 million shares exchanged, predominantly on the Main Board. Haldane McCall Plc led gainers with a 9.97% increase, while Red Star Express Plc topped the losers, dropping 10.00%.