Nigerian stock market losses 0.44% (N164.76 billion) on Tuesday

The Nigerian stock market NGX All-Share Index (ASI) dropped 0.44% to close at 71,041.05 points. Consequently, the market capitalization dropped by ₦164.76 billion to close at ₦38.88 trillion, and the ASI’s year-to-date (YTD) return decreased to 38.61%.

Selloffs in DANGCEM (-2.44%), ZENITHBANK (-0.42%), and GTCO (-0.90%) were the main causes of the market’s poor performance. On the laggard’s table, OMATEK (-10.00%) was ahead of thirty-nine (39) others, and on the leader’s log, NSLTECH (+10.00%) was ahead of seventeen (17) others.

Trade turnover settled at a lower level than it did on Monday with a 5.48% decrease in transaction value. 8,136 transactions totaling 534.62 million shares valued at ₦5.62 billion were completed. With 52.36 million units traded, ACCESSCORP (-0.55%) dominated both the volume and value charts, with trades totaling ₦942.76 million.