Nigerian Stock Market Losses Continue, BUA Cement Leads Decline

Scope
  • 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.

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  • Stock market closed negative again Photo credit: Bloomberg/contributorSource: Facebook

    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.

    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.
    BUA cement shares fall Photo credit: NGXSource: Facebook

    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%).

    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

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