Tuesday Market Went Sour as Investors Loss N671bn in Stock Market

On Tuesday, stock investors experienced a big loss of N671 billion in the Nigerian stock market, after rejoicing over a great start on the first day of the second half of the year which showed N534bn gain on equities.

At the close of the day, the All-Share Index finished at 60,715.04 index points, which signified a 1.99% decline from the previous trading day's closing of 61,949.24 index points.

The market value of shares declined by N671 billion leading to a 1.99% in a single day, to N33.06 trillion at the close of trade. This was N33.731tn from the prior day's session.

Top Gainers at the Close of Trade Yesterday: CHIPLC, ETERNA, and CHAMS topped the list of gainers, increasing by 10%, 9.96%, and 9.88%, respectively.

Top Losers at the Close of Trade Yesterday: LASACO, PZ, and WEMABANK were the biggest losses, falling by -13.86%, -10%, and -9.98%, respectively.

Total Shares Traded Yesterday: The value of shares traded was N12.21 billion, 13.03 percent less than the N14.04 billion reported in the previous day's session.

In terms of volume, 1.11 billion shares were traded, compared to 1.20 million the previous day.

The most traded equities were FCMB, STERLING, and TRANSCORP, with 180.75 million, 107.54 million, and 105.87 million shares exchanged, respectively.

The top three traded shares in terms of value were ACCESSCORP (N1.34bn), UBA (N1.12bn), and FCMB (N981.47m).

Tuesday's negative trend ends a market rise that saw investors post strong gains to conclude the first half of the year on a high note.

The N671bn loss exceeds the N533bn gain reported on Monday, as investors chose profit after a strong market surge.