Equity Market Sustains Bearish Trend with N1.064tn Loss

The Nigerian Stock Exchange extended its bearish performance on Tuesday as the market capitalisation dropped by N1.064tn, closing at N63.23tn. The All-Share Index declined by 1.66% to 103,622.09 points, despite a 0.68% year-to-date increase.

Investors traded 508.16 million shares worth N11.75bn across 13,051 deals, reflecting a 45% turnover increase from the previous day, though deal counts dropped by 8%.

Top gainers included Northern Nigeria Flour Mills, rising 10% to N45.10, and Livestock Feeds, up 9.91% to N6.10. Conversely, Honeywell Flour Mill led the losers, dropping 10% to N9.54, followed by Dangote Cement and Julius Berger, each losing 9.98%.

The Oil & Gas Index edged up by 0.29%, while the Banking Index dipped 0.1%. Other indices, including the Pension and Consumer Goods indices, also recorded declines.

The equity market remains volatile, with investors cautious amid fluctuating market conditions.

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