Trading on the Nigerian Exchange concluded with a major setback on Tuesday as investors faced a collective loss of N1.17 trillion, ending a streak of four days of growth. The market capitalization retracted by 0.73 percent, shifting from N160.421 trillion down to N159.255 trillion.
The All-Share Index mirrored this downward trend, dropping 1,806.18 points to finish the session at 246,723.57 points. As a result, the year-to-date return softened to 58.55 percent, even though the number of stocks that gained value outweighed those that fell, with 28 gainers against 27 losers.
Thomas Wyatt Nigeria suffered the steepest decline at 9.97 percent, closing at N2.89. Other notable decliners included AVA Capital, International Energy Insurance, and International Breweries. Conversely, UPDCREIT topped the gainers with a 10 percent increase to reach N14.85, followed by gains in FTN Cocoa Processors, C&I Leasing, Sovereign Trust Insurance, and Regency Alliance Insurance.
Market activity saw a massive increase in volume, with 3.909 billion shares changing hands across 45,608 deals, totaling N32.38 billion. This is a sharp contrast to Monday’s session where 1.137 billion shares were traded for N27.02 billion. Fortis Global Insurance was the most active stock, moving 3.29 billion shares and accounting for over 84 percent of the daily volume.
