The domestic bourse continued its downward trend on Tuesday as investors sold off banking, consumer and industrial stocks.
Consequently, Nigeria Exchange Ltd. (NGX) market capitalisation shed ₦49 billion or 0.09% to close at ₦56.126 trillion, having opened at ₦56.175 trillion.
The All-Share Index also dropped 0.09% or 87 points to close at 99,217.60, compared to 99,304.12 recorded on Monday.
As a result, the Year-To-Date (YTD) slipped to 32.69%
Sell pressures in Zenith Bank, United Bank For Africa (UBA), Access Corporation, Dangote Sugar, Honeywell Flour, and Nigerian Breweries were the primary drivers of the market’s decline.
However, market breadth closed positive with 27 gainers and 23 losers on the floor of the Exchange.
On the gainers’ chart, Okomu Oil led with a 10% gain to close at ₦291.50 per share.
John Holt trailed with a 9.79% increase to close at N3.14, and Consolidated Hallmark Holdings gained 9.43% to close at ₦1.74 per share.
Secure Electronic Technology Plc rose by 9.09% to close at 60k, and Regency Alliance Insurance added 7.14% to close at 45k per share.
Conversely, Oando led the losers’ chart, dropping 9.75% to close at ₦12.50.
UPL followed with a 9.09% decline to close at N2.50, and Academy lost 8% to close at N1.84 per share.
Honeywell Flour declined by 7.94% to close at ₦3.13, and UPDC Real Estate Investment Trust went down by 7.86% ₦1.29 per share.
Analysis of market activity showed that trade turnover settled at 68.09% lower than the previous session.
Investors traded 361.57 million shares valued at ₦6.16 billion in 8,511 transactions, compared to 973.62 million shares worth ₦19.32 billion in 9,941 deals posted in the previous session.
Transnational Corporation led the activity chart by volume with 47.51 million shares. GTCO followed with 37.85 million shares valued at ₦1.65 billion to lead the chart by value.
Veritas Kapital sold 34.95 million shares worth ₦31.38 million, FBN Holdings traded 27.40 million shares worth ₦548.26 million, and Access Corporation transacted 26.98 million shares worth ₦504.36 million.