Equities transactions at the Nigerian Stock Exchange dipped further on Tuesday as investors witnessed a N166 billion loss in market value.
This is following the drop in Nigeria’s headline inflation to 24.48% in January 2025.
The latest inflation figure, announced by the National Bureau of Statistics, marked a decline from the 34.80% recorded in December 2024, due to the rebasing of the Consumer Price Index.
At the close of business on Tuesday, the market indices reflected the broader market trend, with the top 30 Index shedding 0.24%, while the Insurance Index bucked the trend with a 2.63% gain.
Other indices like the NGX Main Board, Industrial, Oil & Gas, and Consumer Goods Index also recorded declines, with the Oil & Gas Index seeing the sharpest drop at -0.24%.
Similarly, the NGX All-Share Index depreciated by 266.76 absolute points, representing a 0.25% decline to close at 107,670.98 basis points while the total market capitalisation stood at N67.2 trillion.
The market, however posted a one-week gain of 1.03%, a four-week gain of 4.4%, and a year-to-date gain of 4.61%.
Tuesday’s session ended with a total of 408,719,063 shares that exchanged hands in 14,174 deals, amounting to a turnover of N11.26 billion.
The data reflects a 20 percent decline in trading volume, a 12% decrease in turnover, and a 17% drop in the number of deals executed when compared to the previous trading day.
A total of 125 NGX-listed equities participated in trading, with 16 gainers and 40 losers.
On the gainers table, Consolidated Hallmark Holdings led the chart with a 9.76% increase on its share price, to close at N3.71k per share. Sunu Assurances Nigeria followed with a 9.58% profit to N6.52k.
Neimeth International Pharmaceuticals also recorded an 8.77% price gain, to close at N3.35k per share; then Cornerstone Insurance Company posted a 7.03% gain, to close at N3.35k.
On the flipside, the decliners list was dominated by The Initiates, which saw its share price drop by 9.89%, closing at N4.01k.
Union Dicon Salt followed with a 9.82% drop to close at N7.35k, while UPDC share price fell by 9.09% to close at N3.10. Cadbury Nigeria also recorded a significant loss, dropping 9.06% to close at N29.10k.
The top trade volumes for the day were Access Holdings which recorded the highest volume with 54.8 million shares traded, followed by United Bank for Africa with 31.4 million shares.
Also, Guinness Nigeria and Fidelity Bank also featured as the top volume leaders, with 30.3 million and 19.9 million shares traded, respectively.
Olusola Akintonde
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