NIGERIAN STOCK MARKET SLUMPS: Investors Lose Big in One Day, Amount Revealed.

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Investors at the Nigerian Exchange Limited suffered a significant loss of N215 billion at the close of trading on Tuesday as the equities market extended its losing streak.

The market capitalization declined to N67.2 trillion, while the benchmark All-Share Index shed 345.19 points, representing a 0.32 percent drop to close at 107,781.78.

“The downturn was driven by sell-offs in key stocks,” said market analysts. Honeywell Flour Mill led the losers’ chart after shedding 10 percent to close at N11.25 per share.

“It’s a challenging time for investors, and we’re seeing a lot of volatility in the market,” said a stockbroker. Morison Industries followed closely, dropping by 9.97 percent to N3.25, while University Press fell by 9.9 percent to N4.55.

International Energy Insurance also declined by 9.75 percent to N2.13. Trading activity showed a total of 363.01 million shares exchanged hands in 13,753 deals, amounting to a turnover of N10.12 billion.

“This reflected a one percent increase in volume and a 10 percent rise in turnover compared to the previous session,” said analysts. However, the number of deals declined by 14 percent.

Despite the losses, some stocks recorded gains. Smart Products Nigeria led the gainers with a 10 percent increase to close at N0.33 per share.

“We’re seeing some positive momentum in certain stocks, which is a good sign for the market,” said a market expert. Nigerian Exchange Group followed closely, rising by 9.97 percent to N32.

Red Star Express gained 9.57 percent to N7.33, while Associated Bus Company appreciated by 8.13 percent to N1.33. Among the most actively traded stocks, Access Holdings recorded the highest volume with 36.8 million shares.

Jaiz Bank followed with 23 million shares, while Zenith Bank and AXA Mansard Insurance recorded 18.4 million and 17 million shares, respectively.

Market performance across key indices showed a general decline, with the Top 30 Index dropping by 0.24 percent, the Premium Index losing 0.13 percent, and the Pension Index shedding 0.35 percent.

However, the market still maintained a 4.72 percent year-to-date gain. On Monday, the Nigerian Stock Exchange opened the week on a down note as investors faced an overall loss of N231 billion.

The market capitalization and the All-Share Index dipped by 0.34 percent to close at 108,126.97 and N67.4 trillion. Last week, the All-Share Index and Market Capitalization appreciated by 0.41 percent and 0.29 percent to close the week at 108,497.40 and N67.614 trillion, respectively.

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