The Nigerian equities market extended its decline as the Nigerian Exchange Limited (NGX) All-Share Index slipped 0.09 percent to 247,513.63 points.
The benchmark index had closed at 247,736.24 points in the previous session, meaning the latest decline wiped another 222.61 points off the market.
Equity market capitalisation also declined to N160.708 trillion, indicating the continued pressure on listed equities.
The latest loss extends a pullback that began last week, when the All-Share Index declined 0.97 percent to 248,363.55 points.
The market subsequently fell another 0.25 percent to 247,736.24 points before slipping to 247,513.63 points in the latest session.
Despite the decline in the benchmark index, trading remained active as investors exchanged 394.20 million shares worth N21.38 billion across 38,707 deals.
Compared with the previous session, when 405.39 million shares worth N19.87 billion changed hands across 52,977 deals, trading volume declined by about 2.8 percent, while transaction value increased approximately 7.6 percent.
The number of deals, however, dropped by about 26.9 percent, showing that higher monetary turnover was recorded despite fewer transactions and slightly lower share volume.
Access Holdings emerged as the most actively traded equity by volume with 57.02 million shares worth N1.61 billion.
Livestock Feeds followed with 48.03 million shares valued at N757.53 million, while GTCO recorded 24.42 million shares worth N3.13 billion, the highest transaction value among the five most actively traded stocks.
UBA posted 22.75 million shares valued at N979.98 million, while Zenith Bank recorded 16.67 million shares worth N2.14 billion.
On the gainers’ table, E-Tranzact International led with a 9.96 percent increase, rising from N13.05 to N14.35.
Wapic Insurance advanced 7.83 percent to N2.48, while DAAR Communications appreciated 7.25 percent to N1.48.
Livestock Feeds extended its recent rally with another 6.92 percent gain to N15.45, while Chams Holding Company rose 5.88 percent to N3.60.
On the losing side, Legend Internet led the decliners with a 6.85 percent fall from N3.65 to N3.40.
Omatek Ventures declined 6.43 percent to N1.31, NSL Tech fell 5.71 percent to N0.66, Mutual Benefits Assurance lost 5.49 percent to N3.10, while AIICO Insurance declined 4.39 percent to N3.92.
The latest session therefore extended the NGX’s recent weakness, although the 0.09 percent decline was considerably smaller than the 0.25 percent loss recorded in the preceding session.
With the All-Share Index now at 247,513.63 points and market capitalisation at N160.708 trillion, the market remains under pressure even as selected equities, particularly E-Tranzact and Livestock Feeds, continue to record strong gains.