Equity Market Extends Downward Trend, Sheds N215 Billion Naira

The equity market extended its downward trend on Tuesday, as the market capitalisation of listed equities shed N215 billion or 0.32 per cent.

Specifically, the market capitalisation, which opened at N67.383 trillion, closed at N67.168 trillion.

The All-Share Index also declined by 0.32 percent to 107,781.79, against 108,126.97 recorded on Monday.

However, the Year-To-Date return rose to 4.72 per cent, as the market breadth also closed negative with 49 losers and 13 gainers.

On the losers chart, Honeywell Flour led by 10 per cent to close at N1.25 per share, while Smart Products Nigeria led the gainers table by 10 per cent to close at 33k per share.

Trading activity remained strong, with the value of transactions increasing by 9.85 per cent.

A total of 363.01 million shares worth N10.12 billion were exchanged across 13,753 transactions, compared with 357.76 million shares worth 9.21 billion traded across 15,914 transactions posted in the previous session.

Meanwhile, on the activity table, Access Bank led in volume with 36.85 million shares, while Guiness led in value of deals worth N1.10 billion.