By Seun Ibiyemi
Nigeria’s stock market continued its downward slide on Tuesday, recording a 0.12 per cent decline as intensified sell pressure across mid- and small-cap stocks dampened overall sentiment.
The session was marked by cautious trading, with investors reacting to persistent uncertainties in the broader market, which weighed on sector performance and weakened risk appetite.
Market capitalisation dipped by N110 billion to close at N92.218 trillion, down from N92.328 trillion the previous day.
Similarly, the All-Share Index (ASI) fell by 173.26 points, settling at 144,986.51 compared to Monday’s 145,159.77.
The sustained downtrend further pushed year-to-date returns into deeper negative territory at 40.86 per cent, underscoring the prevailing bearish sentiment.
Market breadth closed negative, with 28 declining stocks outweighing 27 gainers, reflecting sellers’ dominance.
On the losers’ chart, Livingtrust Mortgage Bank topped with a 9.90 per cent drop to N3.73 amid persistent profit-taking. McNicholas fell by 9 per cent to N2.73, while Livestock Feeds declined 7.75 per cent to N6.55 per share. Regency Alliance Insurance also shed 6.56 per cent to N1.14, and UPDC lost 6.14 per cent to close at N5.96.
Conversely, NCR Nigeria led the gainers, rising 9.95 per cent to N30.95 on renewed interest in tech-related equities.
University Press appreciated by 9.80 per cent to N5.60, while Tantalizer gained 9.79 per cent to N2.58, maintaining strong speculative momentum.
Caverton Offshore Support Group advanced 9.57 per cent to N5.15, and Union Dicon Salt rose 9.52 per cent to N6.90 as consumer goods stocks enjoyed renewed demand.
Market activity weakened significantly, with volume, value, and number of deals all declining from the previous session. Investors traded 381.23 million shares worth N16.7 billion in 21,827 deals.
This contrasts with Monday’s 388.2 million shares valued at N31.14 billion across 28,492 deals, reflecting reduced engagement.
For the second straight session, Tantalizer dominated the volume chart with 58.78 million shares traded, while Aradel led in value with transactions totalling N9.50 billion, sustaining strong interest in energy-linked stocks.