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For the second day in a row, the Nigerian Equities Market witnessed a downturn in trading activities, resulting in investors facing losses worth N62.21 billion, according to data from the NGX-All Share Index (ASI).

The NGX-All Share Index (ASI) dipped to 104,553.31 from the previous day’s close of 104,663.34, indicating a downward trend in market performance.

In response to this decline, market capitalization also fell by N62.21 billion to N59.116 trillion from N59.178 trillion recorded previously.

In the words of a market analyst, “The consecutive negative closure suggests a cautious sentiment among investors, possibly influenced by both internal and external factors affecting the market.”

Gainers and Losers Highlight NGX Market Volatility

The market breadth exhibited a mix of positive and negative movements, with 27 stocks recording gains, 23 stocks experiencing declines, and 68 stocks remained unchanged across 9,548 deals.


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Among the gainers, International Energy Insurance Plc led the pack with a notable 10% increase, closing at N1.32, up from its previous price of N1.20.

Similarly, companies like International Breweries, Juli, and NEM Insurance Plc also saw significant growth in their share prices, with increments of 9.89%, 9.85%, and 9.59% respectively.

Conversely, Daar Communications Plc saw the most significant decline, losing 9.86% off its share price, closing at N0.64 from N0.71.

Other notable decliners included Computer Warehouse Group (CWG), Sovereign Trust Insurance, and Fidson Healthcare Plc, shedding their share prices by 9.09%, 8.51%, and 6.25% respectively.

Volume and Value Indices Reflect Trading Patterns

In terms of trading volume, First Bank of Nigeria Holding (FBNH) Plc emerged as the most active stock, trading 37.807 million units valued at N1.573 billion in 658 deals.

Following closely were United Bank for Africa (UBA) Plc and Access Bank Holding Plc, which traded 36.855 million units valued at N954.382 million and 28.087 million units valued at N649.273 million respectively.

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Meanwhile, on the value index, FBNH recorded the highest value for the day, trading stocks worth N1.573 billion, followed by UBA and MTNN, which traded equities worth N954 million and N680 million respectively.

With the NGX witnessing consecutive days of negative trading, investors are urged to exercise caution and remain vigilant amid the prevailing market volatility.

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