The Nigerian stock market extended its downward trend on Tuesday, June 17, as investors suffered a ₦183 billion loss in market value. The Nigerian Exchange Ltd. (NGX) saw its total market capitalization fall from ₦72.680 trillion on Monday to ₦72.497 trillion at the close of trading.
The All-Share Index dropped by 348.61 points, or 0.30%, closing at 114,910.16 compared to the previous session’s 115,258.77.
The decline was led by significant losses in key stocks such as Transcorp Power, Oando, Ellah Lakes, Omatek, and Custodian Investment. Market sentiment remained bearish, with 35 stocks closing lower against 29 gainers.
Transcorp Power Plc led the losers, plunging 9.98% to ₦295.70 per share. Oando Plc followed with a 9.97% drop to ₦58.25, while Ellah Lakes declined 9.87% to ₦4.29. Omatek shares lost 9.33%, closing at 68 kobo, and Custodian Investment Plc fell 8.63% to ₦22.75.
Among the gainers, Cileasing topped the list with a 10% rise to ₦4.62 per share. Learn Africa and Mutual Benefits Assurance both posted 10% gains, closing at ₦4.18 and ₦1.10 respectively. University Press gained 9.82% to ₦5.48, while Deap Capital Management increased by 8.64% to 88 kobo per share.
Total trading volume for the day was 787.31 million shares worth ₦25.67 billion, spread across 23,170 deals—an improvement from Monday’s 721.75 million shares valued at ₦22.01 billion exchanged in 22,100 transactions.
Zenith Bank led the volume chart with 96.23 million shares worth ₦4.25 billion. Guaranty Trust Holding Company followed with 83.36 million shares valued at ₦6.24 billion, while United Bank for Africa traded 65.16 million shares worth ₦2.11 billion. Access Corporation and Ecobank Transnational Incorporated completed the top five with 64.21 million shares at ₦1.30 billion and 51.73 million shares at ₦1.57 billion respectively.
