The Nigerian stock market (NGX) experienced its first loss of 2025 on Tuesday, with investors losing N152 billion amid sell-offs in top banking stocks.
The market capitalisation, which opened at N63.203 trillion, saw a decline of N152 billion, or 0.24%, closing at N63.051 trillion.
The downturn was driven mainly by losses in major stocks, including Zenith Bank, United Bank for Africa (UBA), Access Corporation, Oando Plc, Dangote Sugar, Nigerian Breweries, and other declining equities.
The All-Share Index also fell by 0.24%, losing 249.42 points to end at 103,398.82, down from 103,648.24 on Monday. This resulted in a decrease in the Year-to-Date (YTD) return to 0.46%.
Market breadth closed in the red, with 51 stocks losing ground compared to 18 gainers.
An analysis of Tuesday’s trading showed that Cocoa, RT Briscoe, and Veritas Kapital led the losers, each dropping 10% to close at N1.80, N2.70, and N1.53 per share, respectively.
Sunu Assurances and Cornerstone Insurance saw declines of 9.98% each, closing at N10.01 and N4.15 per share, respectively.
On the positive side, Abbey Mortgage Bank and PZ Nigeria led the gainers, each rising by 10% to close at N3.63 and N27.50 per share, respectively. Learn Africa followed with a 9.90% gain, closing at N5.44, while NCR Nigeria added 9.77%, ending at N7.30, and NGX Group gained 9.72%, closing at N29.90 per share.
In terms of trading activity, the market saw an increase in turnover compared to the previous session, with a 10.48% rise in transaction value. A total of 1.11 billion shares worth N14.64 billion were traded across 16,617 deals, compared to 855.97 million shares valued at N13.25 billion in 16,505 deals the day before.
FBN Holdings led both in trading volume and value, with 161.46 million shares traded, totalling N4.72 billion.
