The Nigerian Exchange recorded a loss of N183bn at the close of trading on Tuesday, as bearish sentiments continued to weigh on key market indicators, dragging several blue-chip stocks into negative territory.

Market data from the NGX revealed that the All-Share Index declined by 348.61 points, or 0.3 per cent, to close at 114,910.16, compared to the previous day’s close. The dip was also reflected in the market capitalisation, which dropped from N72.7 tn to N72.5 tn, representing a N183 bn loss in investor value.

Despite a marginal increase in trading activities, the overall market mood remained negative. A total of 787,305,500 shares valued at N25.67bn were traded in 23,170 deals, showing a 9 per cent improvement in volume, a 17 per cent rise in turnover, and a 5 per cent increase in the number of deals compared to the previous trading session.

Out of the 128 listed equities that participated in the day’s session, 29 recorded price gains while 35 posted losses. C and I Leasing led the gainers’ chart, appreciating by 10 per cent to close at N4.62 per share. Learn Africa followed with a 10 per cent increase to close at N4.18, while Mutual Benefits Assurance also gained 10 per cent to settle at N1.10 per share.

University Press rose by 9.82 per cent to close at N5.48 per share, while Deap Capital and LivingTrust Mortgage Bank gained 8.64 per cent and 8.39 per cent, respectively.

On the flip side, Transcorp Power topped the losers’ table, shedding 9.98 per cent to close at N295.70 per share. Oando lost 9.97 per cent to close at N58.25, Ellah Lakes dropped 9.87 per cent to close at N4.29, and Omatek Ventures declined by 9.33 per cent to close at N0.68 per share. Other notable losers include Custodian Investment, which fell by 8.63 per cent, and Sterling Financial Holdings, which declined by 8.55 per cent.

In terms of trade volume, Zenith Bank recorded the highest volume of traded shares with 96.2 million units, followed by Guaranty Trust Holding Company with 83.4 million shares. United Bank for Africa and Access Holdings also recorded significant activity, trading 65.2 million and 64.2 million shares, respectively.

Performance across key indices reflected the mixed sentiments in the market. The Top 30 Index dropped by 0.28 per cent, while the Banking Index declined by 0.2 per cent. However, the Pension Index rose by 0.43 per cent, indicating interest from institutional investors. The Insurance Index increased by 0.4 per cent, the Industrial Index gained 0.16 per cent, and the Premium Index recorded a marginal loss of 0.02 per cent.

Despite the day’s losses, the market has shown moderate gains in broader timeframes, with the All-Share Index posting a one-week gain of 0.26 per cent, a four-week gain of 4.97 per cent, and a year-to-date return of 11.64 per cent.

The PUNCH reported that the Nigerian Exchange Limited began the new trading week on a bearish note as the market capitalisation declined by N121bn, driven largely by sell-offs in banking stocks following a directive from the Central Bank of Nigeria.