Nigeria’s equities market extended its losing streak on Tuesday, with investors losing about N256 billion as selling pressure continued across several listed stocks.
The market capitalisation of listed equities fell by 0.16 per cent to N162.495 trillion from N162.751 trillion recorded in the previous session. The NGX All-Share Index also declined by 394.36 points to 250,273.50 points, compared with 250,667.86 points on Monday.
Market breadth remained negative, with 34 stocks closing lower against 26 gainers. The decline pushed the market’s year-to-date return down to 60.83 per cent.
Tripple Gee and Company led the gainers, rising 9.77 per cent to N2.81 per share. Livestock Feeds gained 9.74 per cent to N10.74, while NPF Microfinance Bank, Sovereign Trust Insurance and WAPIC Insurance also recorded notable gains.
On the losing side, CMFC fell 9.88 per cent to N3.65, followed by ABC Transport, which declined 9.70 per cent to N3.65. CWG dropped 7.23 per cent to N19.25, while Zichis Agro-Allied Industries and Neimeth International Pharmaceuticals lost 6.58 per cent and 6.17 per cent respectively.
Trading activity also weakened. Volume fell by 31.72 per cent to 579.25 million shares, while the value of transactions dropped 9.38 per cent to N36.81 billion.
The continued sell-off leaves investors watching for signs of renewed buying interest as the market attempts to stabilise.
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