Nigerian Stock Market Losses Continue, BUA Cement Leads Decline

• The Nigerian stock market continued its poor performance as it recorded another loss of over N200 billion
• Data shows that the losers' table was led by BUA cement, Ellah Lakes PLC and agric company and also Regency Alliance Insurance Company
• Stocks like Academy Press Plc, Neimeth International Pharmaceuticals Pl and Tantalizers Plc led the gainers' table

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigerian stock market witnessed another negative day as the market recorded a loss of N275 billion.

Data from the Nigerian Exchange Limited (NGX) showed that the market All-Share Index (ASI) slipped to 105,799.17 points from 105,955.13 in the previous session.

Despite the declines, the Nigerian equities market has seen a week-to-date decrease of 0.55% and a month-to-date decline of 2.27%.

Year-to-date (YTD) positive returns also dropped to 2.38%, reflecting ongoing market volatility and investor caution.

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Nigerian stock market summary on Tuesday

In total, investors exchanged 343,750,930 shares in 11,022 deals, valued at N7.985 billion.

Top Traded Stocks (by Volume & Value)

• Access Holdings PLC recorded a turnover of 36,756,861 shares valued at N847,292,154.40.
• Universal Insurance PLC traded 30,096,847 shares worth N17,934,224.40.
• Fidelity Bank Plc exchanged 28,896,918 shares amounting to N488,837,220.90.
• Jaiz Bank Plc recorded a turnover of 22,013,973 shares valued at N70,127,536.23.
• Zenith Bank Plc traded 19,563,009 shares worth N929,981,792.50.

Top decliners

• BUA Cement Plc fell by N9.30, dropping from N93.00 to N83.70 per share (-10.00%).
• Ellah Lakes Plc declined by N0.16, decreasing from N3.32 to N3.16 per share (-4.82%).
• Regency Alliance Insurance Plc (REGALINS) lost N0.03, moving from N0.68 to N0.65 per share (-4.41%).
• Wema Bank Plc declined by N0.45, sliding from N10.75 to N10.30 per share (-4.19%).
• Omatek Ventures Plc dropped by N0.02, falling from N0.67 to N0.65 per share (-2.99%).

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Top gainers

• Neimeth International Pharmaceuticals Plc gained N0.27, rising from N2.70 to N2.97 per share (10.00%).
• Northern Nigeria Flour Mills Plc (NNFM) rose by N7.25, moving from N72.55 to N79.80 per share (9.99%).
• Custodian Investment Plc gained N1.90, increasing from N19.60 to N21.50 per share (9.69%).
• SUNU Assurances Nigeria Plc advanced by N0.37, climbing from N4.63 to N5.00 per share (7.99%).
• Guinea Insurance Plc gained N0.05, moving from N0.65 to N0.70 per share (7.69%).

Naira depreciates against US dollar

Legit.ng previously reported that the Nigerian currency recorded a poor performance against the US dollar in the FX markets.

Data from CBN showed that the naira suffered a loss of N9.61 or 0.63% to settle at N1,531.98/$1 on Monday in contrast to last Friday’s value of N1,522.37/$1.

Similarly, the Nigerian currency weakened against the Pound Sterling during the trading session by N20.41 to quote at N1,984.61/£1 compared with the previous trading day’s rate of N1,964.20/£1

Source: Legit.ng