The Nigerian stock market continued its downward trend on Tuesday, June 17, with investors suffering a loss of ₦183 billion in market value. The total market capitalization of the Nigerian Exchange Ltd. (NGX) fell from ₦72.680 trillion on Monday to ₦72.497 trillion at the close of trading. The All-Share Index dropped by 348.61 points, or 0.30 percent, closing at 114,910.16, down from 115,258.77 in the previous session.
The decline was mainly driven by losses in major equities such as Transcorp Power, Oando, Ellah Lakes, Omatek, and Custodian Investment. Market sentiment remained negative, with 35 stocks closing lower compared to 29 that recorded gains.
Transcorp Power Plc led the losers, falling 9.98 percent to ₦295.70 per share. Oando Plc followed with a 9.97 percent decline to ₦58.25, while Ellah Lakes dropped 9.87 percent to ₦4.29. Omatek shares fell 9.33 percent to 68 kobo, and Custodian Investment Plc shed 8.63 percent to ₦22.75.
On the positive side, Cileasing led the gainers with a 10 percent increase to ₦4.62 per share. Learn Africa and Mutual Benefits Assurance also posted 10 percent gains, closing at ₦4.18 and ₦1.10 respectively. University Press rose 9.82 percent to ₦5.48, and Deap Capital Management appreciated by 8.64 percent to 88 kobo per share.
Total turnover for the day was 787.31 million shares worth ₦25.67 billion, traded in 23,170 deals, showing an improvement from Monday’s 721.75 million shares valued at ₦22.01 billion exchanged in 22,100 transactions.
Zenith Bank topped the volume chart with 96.23 million shares worth ₦4.25 billion. Guaranty Trust Holding Company followed with 83.36 million shares valued at ₦6.24 billion, while United Bank for Africa traded 65.16 million shares worth ₦2.11 billion. Access Corporation and Ecobank Transnational Incorporated rounded out the top five with 64.21 million shares at ₦1.30 billion and 51.73 million shares at ₦1.57 billion, respectively.
