|By Adejumo Adekunle-
- Market Capitalisation Shrinks to N66.48tn as ASI Drops 454 Points
- Mecure, ABC Transport Lead Decliners as 31 Stocks Plunge
- Livestock Feeds, Cornerstone Insurance Head Gainers’ Chart
Nigeria’s stock market took a bearish hit on Tuesday, wiping out N285 billion in investor wealth as market sentiment weakened. The Nigerian Exchange Limited (NGX) saw its market capitalisation contract to N66.484 trillion, down from N66.769 trillion recorded on Monday—a 0.43 percent decline.
Similarly, the All-Share Index (ASI) shed 454 points, closing at 106,167.75 against the previous 106,621.91, further signaling a negative market breadth with 31 losers outweighing 23 gainers.
Top Losers:
Mecure Industries suffered the sharpest fall, plunging 10 percent to close at N11.25 per share. ABC Transport also tumbled, shedding 7.98 percent to settle at N1.50.
Other significant decliners included Daar Communications, which slumped 7.46 percent to 62k, Guinea Insurance, down 7.35 percent to 63k, and Royal Exchange, which dipped 7.32 percent to 75k per share.
Top Gainers:
On the flip side, Livestock Feeds led the gainers’ chart, surging 9.93 percent to N9.85 per share. Cornerstone Insurance followed closely, climbing 9.25 percent to N3.19 per share.
International Energy Insurance advanced 8.99 percent to N1.94, Smart Products Nigeria gained 8.33 percent to 39k, while Lasaco Assurance rallied 7.55 percent to N2.85 per share.
Trading Volume and Market Activity:
Investors traded 324.59 million shares worth N7.918 billion across 12,652 deals, marking a decline from Monday’s 364.97 million shares valued at N17.628 billion exchanged in 14,565 deals.
Fidelity Bank led the activity chart with 29.387 million shares worth N502 million, followed by Access Corporation with 28.345 million shares valued at N680 million. Guaranty Trust Holding Company (GTCO) exchanged 28 million shares worth N1.688 billion, while Zenith Bank recorded 22.359 million shares valued at N1.067 billion.
US Markets Also in Red Amid Trump’s Tariff Escalation:
Meanwhile, the US stock market suffered losses on Tuesday following former President Donald Trump’s tariff escalation with Canada.
The Dow Jones Industrial Average plummeted 478 points, or 1.14 percent, after initially nosediving over 700 points. The S&P 500 slipped 0.76 percent, while the Nasdaq Composite edged down 0.18 percent.
Responding to the market downturn, Trump stated, “Markets will rise and fall, but we have to rebuild our country.”
