The All Share Index (ASI), which closed at 54,915.61 points, down by 574.59 absolute points, or 1.04 percent. As a result, investors lost N313 billion in value, bringing the market worth down to N29.916 trillion.
Losses in medium and large capitalized equities, including those of MTN Nigeria Communications (MTNN), Ecobank Transnational Incorporated (ETI), Industrial & Medical Gases Nigeria, United Capital, and Dangote Sugar Refinery, had a negative impact on the downturn.
GTI Securities analysts commented on the market’s prognosis by saying: “Investors continue to choose safe equities in light of the upcoming election’s uncertainty. In the absence of another catalyst, we anticipate that this poor performance will continue.
As 25 companies declined compared to eight advancing ones, market breadth remained negative. The price increase of 8.70% by Chams Holding Corporation to settle at 25 kobo per share was the greatest.
University Press was in second, rising 7.57% to close at N1.99, while LivingTrust Mortgage Bank was third, rising 3.37% to conclude at N3.07 per share.
Zenith Bank increased by 2.52% to close at N24.45 per share, while Sterling Bank increased by 2.67 % to close at N1.54 per share.
Although Honeywell Flourmills lost 1.35 percent to settle at N2.25 kobo, Oando increased 2.24 percent to close at N4.10 kobo. Jaiz Bank gained 1.14 percent as well, finishing at 89 kobo.
ETI, on the other hand, finished at N10.80 per share to lead the losers’ table by 10%. Following with losses of 9.32% each to close at N7.30, Industrial & Medical Gases Nigeria and Royal Exchange both suffered losses of 8.22% to close at 67 kobo a share.
International Energy Insurance lost 6.92% to settle at N1.21 per share, while R.T. Briscoe Nigeria lost 7.69% to conclude at 24 kobo. To close at N11.10 kobo, United Capital lost 5.13 percent of its value.
Cutix lost 5.12% of its value to end the day at N2.04 kobo. MTN Nigeria lost 4.95% to end the day at N236. To end at N8.60 kobo, Access Corp lost 4.44 percent of its value.
TransNational Company lost 4.44 percent of its value to end the day at N1.29 kobo. To close at N1, Caverton dropped 3.85%. To close at N18.45 kobo, Dangote Sugar Refinery lost 2.89 percent of its value. FBN Holdings lost 2.73 percent of its value to settle at N10.70 kobo. To close at N5.01 kobo, Fidelity Bank also had a 2.72 percent decline.
In the meantime, there were 3,489 trades totaling 137.287 million units worth N1.510 billion, a 24.23% reduction in trade volume.
Transnational Corporation (Transcorp) share transactions, totaling 26.085 million shares valued at N33.979 million, topped the list of activities.
Sterling Bank traded 13.231 million shares valued at N20.019 million, followed by Zenith Bank with 14.721 million shares worth N353.890 million.
10.242 million shares of United Bank of Africa (UBA) were traded for N81.385 million, while 7.626 million shares of Access Holdings were exchanged for N66.201 million.
