Nigerian Stocks Dip 0.30% as Sell-Off Hits 35 Equities
Nigerian equities closed lower on Tuesday as selling pressure dominated trading across 35 securities, pushing the benchmark index down by 0.30% to 114,910.16 points from the previous session’s 115,258.77 points.
Total market value contracted by 0.25% to ₦72.497 trillion, compared to the prior close of ₦72.680 trillion, representing a ₦183 billion decline in investor wealth.
Trading volume reached 787 million shares across 23,170 transactions, generating approximately ₦25.7 billion in turnover.
Market sentiment leaned negative, with 35 declining stocks outnumbering 29 gainers.
Top performers included Mutual Benefits, C & I Leasing, and LearnAfrica, each posting the maximum 10.00% gain to close at ₦1.10, ₦4.62, and ₦4.18, respectively.
University Press, DEAPCAP, and LivingTrust also recorded strong advances of 9.82%, 8.64%, and 8.39%, respectively.
Conversely, Transcorp Power, Oando, and Ellah Lakes led the laggards with losses of 9.98%, 9.97%, and 9.87%, respectively.
Banking stocks dominated activity: Zenith Bank moved 96 million shares across 2,020 transactions worth ₦4 billion; GTCO traded 83 million units in 1,044 deals valued at ₦6 billion; while UBA recorded 65 million shares in 1,649 transactions totalling ₦2 billion.
