Nigerian Equities Market Records N1.33 Trillion Loss on Profit Taking 

The Nigerian stock market experienced a significant downturn on Tuesday, with the equities market recording a loss of N1.33 trillion due to widespread sell-offs.

Major stocks such as Dangote Cement, RT Briscoe, Royal Exchange, Jaiz Bank, and WAPIC Insurance led the decline.

The market capitalization of listed equities dropped by 1.46% to close at N90.227 trillion from N91.561 trillion. Similarly, the All-Share Index declined by 1.46%, shedding 2,109 points to close at 142,613.47.

Royal Exchange led the losers’ chart with a 10% loss, settling at N2.52 per share. Dangote Cement dropped by 9.88% to finish at N520 per share, while RT Briscoe fell by 9.87% to settle at N3.56.

Jaiz Bank dipped by 9.81% to end the session at N4.32 per share.

On the other hand, Deep Capital Management and Trust climbed by 9.60% to finish at N1.94, Academy Press rose by 8.43% to close at N9 per share, and International Breweries gained by 6.95% to settle at N13.85 per share.

The day’s trading activity revealed a decline in volume and transactions with an improvement in turnover. A total of 1.03 billion shares valued at N17.66 billion were traded across 34,352 transactions, compared to 1.15 billion shares valued at N16.17 billion exchanged across 38,160 transactions on Monday.

Universal Insurance topped the activity chart with 130.22 million shares valued at N173.67 million, followed by AIICO Insurance with 100.11 million shares worth N437.56 million. Mutual Benefits Assurance traded 68.52 million shares valued at N310.65 million.