By MBAFAN ADE, Abuja-
Nigerian stock market witnessed a significant downturn on Tuesday, with investors losing ₦183 billion in total market value.
The Nigerian Exchange Ltd. (NGX) market capitalization dropped to ₦72.497 trillion from ₦72.680 trillion.
The All-Share Index fell by 348.61 points or 0.30%, closing at 114,910.16. Key stocks, including Transcorp Power, Oando, and Ellah Lakes, experienced price depreciation.
Transcorp Power’s stock led the losers, plummeting 9.98% to ₦295.70 per share. Oando followed with a 9.97% decline, closing at ₦58.25. Ellah Lakes shed 9.87% to finish at ₦4.29.
Other notable decliners included Omatek, which dropped 9.33% to 68k per share, and Custodian Investment, which fell 8.63% to ₦22.75.
Conversely, some stocks posted gains, with Cileasing rising 10% to ₦4.62 and Learn Africa gaining 10% to ₦4.18. Mutual Benefits Assurance appreciated 10% to ₦1.10, while University Press rose 9.82% to ₦5.48.
Market activity remained robust, with 787.31 million shares traded, valued at ₦25.67 billion, across 23,170 deals. Zenith Bank led the activity chart with 96.23 million shares traded, valued at ₦4.25 billion.
