Stock investors, lose N29.42 billion from their investment as the market capitalisation closed at N26.52 trillion at the end of Tuesday’s trading session.
Equities Market was bearish to reverse the previous day’s gains, closing lower by 0.1%. All-Share Index (ASI) settled at 49,163.81 basis points, the Month-to-Date loss increased to -1.4%, while the Year-to-Date gain moderated to +15.1%.
Investors’ interest in Zenith Bank was offset by selloffs in Guaranty Trust Holding Company, FBN Holdings, Access Corporation and United Bank for Africa putting the market in the red.
May & Baker and Regal Insurance topped the losers’ chart with 9.8% and 7.7% respectively, while NGX Group and Multiverse recorded the highest gains of the day with 10% increase in share value.
Sectoral performance was mixed, as the Banking and Consumer Goods indices losses by 0.7% and 0.1%, while the Oil & Gas and Insurance indices closed higher by 0.2% and 0.1%.
Market sentiment was negative as 17 tickers lost, as against 13 gainers.
Analysis of market activities showed that trade turnover settled higher relative to the previous session, with the value of transactions increasing by 87.77%.
A total of 139.24m shares valued at N1.60 bn were exchanged in 3,421 deals.
Transnational Corporation led the volume chart with 38.46m units traded, while Zenith Bank led the value chart in deals worth N710.83m.
Writing by Julian Osamoto; editing by Annabel Nwachukwu