Emmanuel Ochayi
Stock Price Declines Lead to Market Drop
The Nigerian equity market ended the year on a negative note, as investors lost ₦136 billion at the close of trading on Tuesday. The drop was largely driven by a decrease in the share prices of key stocks such as ETERNA, UNION DICON, and CHAMPION BREWERIES.
By the end of the five-hour trading session, the equity capitalization dropped to ₦62.7 trillion, slightly down from ₦62.8 trillion recorded the previous day.
Join our WhatsApp ChannelPerformance of the All-Share Index
The All-Share Index (ASI), a key indicator of market performance, declined from 103,149.35 points on Monday to 102,926.40 points on Tuesday. This reflects a continuing trend of cautious trading by investors.
Market Breadth Indicates Mixed Sentiment
Despite the decline in the equity market, market breadth was positive, with 34 stocks recording gains, 27 declining, and 61 remaining unchanged. The session saw 8,830 deals executed across the board.
Among the gainers were BETA GLAS, PRESTIGE, and UNIVERSAL INSURANCE, each recording a 10% price increase. Their closing prices were ₦64.90, ₦1.21, and ₦0.66, respectively.
Equity Market Leaders and Laggards
In contrast, ETERNA, UNION DICON, and CHAMPION BREWERIES led the decliners, posting price drops of 10%, 10%, and 8.19%.
ETERNA’s share price fell to ₦24.30 from ₦27.00, UNION DICON dropped to ₦7.20 from ₦8.00, and CHAMPION BREWERIES closed at ₦3.81 from ₦4.15.
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Trading Volume and Value Trends
ACCESS CORP emerged as the most traded stock by volume, with 30 million shares exchanged in 406 deals. UNIVERSAL INSURANCE and PRESTIGE followed closely, trading 24 million shares each in 111 and 102 deals, respectively.
On the value index, ARADEL led with trades worth ₦12.9 billion across 326 deals. GEREGU and SEPLAT followed, trading equities valued at ₦10.3 billion and ₦9.5 billion in 131 and 67 deals, respectively.
Outlook for the Equity Market
Market analysts note that the close of the year reflects a mix of investor caution and sector-specific performance pressures. The equity market’s performance underscores the importance of closely monitoring economic and corporate trends in the coming year.
