Again, stock market closes negatively with N164.7bn loss

The Stock Market on Tuesday closed negatively making it the second time this trading week. 

The Nigerian Exchange Limited (NGX) had yesterday reported depreciation in the market capitalisation of the market to N132.4 billion.

In Tuesday’s trade, investors lost N164.7 billion, losing 321.76 basis points and reflecting a negative market breadth in the equities market.

The NGX All-Share Index (ASI) declined by 0.44 percent, closing at 71,041.05 basis points, compared to the previous day’s gain of 0.17 percent, which closed at 71,353.81 basis points. The NGX Market CAP also recorded a loss of N164.76bn in Naira terms. Thus, the NGXASI now stands at 38.61 percent.

The total volume traded declined by 28.40 percent to close at N534.62 million, valued at N5.62 billion and traded in 8,136 deals. ACCESSCORP was the most traded stock by volume and value, with N52.36 million and N942.76 million units traded.

The Gate Index declined by 2.13 percent to close at 184.45, while the Toni index advanced by 0.58 percent to close at 373.31 basis points.

At the close of trading, the market recorded 18 gainers, 40 losers, and 56 unchanged. NSLTECH topped the gainers list, while OMATEK topped the list of losers.

Meanwhile, ACCESSCORP had the highest volume contribution with 9.79%, while TRANSCORP and UPDCREIT followed closely behind.

According to the value chart, ACCESSCORP is at the top with a 16.78 percent contribution. UBA and ZENITHBANK followed closely behind.