The Nigerian stock market continued its downward trend on Tuesday, June 17, with investors losing ₦183 billion in market value. The Nigerian Exchange Ltd. (NGX) saw its total capitalisation decline from ₦72.680 trillion on Monday to ₦72.497 trillion at the close of trading.
The All-Share Index also fell by 348.61 points, representing a 0.30 per cent drop to close at 114,910.16, down from the previous session’s 115,258.77.
The decline was driven by losses in major equities, including Transcorp Power, Oando, Ellah Lakes, Omatek, and Custodian Investment, among others. Market sentiment remained negative, with 35 stocks closing in the red compared to 29 that gained.
Transcorp Power Plc topped the list of losers, dropping 9.98 per cent to ₦295.70 per share. Oando Plc followed closely with a 9.97 per cent decline to ₦58.25, while Ellah Lakes fell 9.87 per cent to ₦4.29. Omatek shares dropped 9.33 per cent to close at 68k, and Custodian Investment Plc shed 8.63 per cent to ₦22.75.
On the gainers’ side, Cileasing led with a 10 per cent increase to ₦4.62 per share. Learn Africa and Mutual Benefits Assurance also posted 10 per cent gains, closing at ₦4.18 and ₦1.10, respectively. University Press rose 9.82 per cent to ₦5.48, while Deap Capital Management appreciated by 8.64 per cent to 88k per share.
Total turnover for the day stood at 787.31 million shares worth ₦25.67 billion, traded in 23,170 deals. This was an improvement from Monday’s 721.75 million shares valued at ₦22.01 billion exchanged in 22,100 transactions.
Zenith Bank topped the volume chart with 96.23 million shares worth ₦4.25 billion. Guaranty Trust Holding Company followed with 83.36 million shares valued at ₦6.24 billion, while United Bank for Africa traded 65.16 million shares worth ₦2.11 billion. Access Corporation and Ecobank Transnational Incorporated rounded out the top five with 64.21 million shares at ₦1.30 billion and 51.73 million shares at ₦1.57 billion, respectively.
