The Nigerian equities market reverses previous day gain as the market indicators plunged into the red region on Tuesday.
Specifically, All Share Index (ASI) of the Nigerian Stock Exchange (NSE) closed 0.54 per cent downward at 24,650.16 basis points, just as the market capitalisation settled at N12.858 trillion after depreciating by N7 billion.
Similarly, Market breadth closed in favour of bears with 14 stocks in the gainers’ chart against 17 decliners.
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Berger Paints led the gainers’ chart, trailed by Mutual Benefits, Unity Bank, Okomu Oilpalm and Oando. At the rear end of the chart, Total, Seplat, NPF Microfinance Bank, UAC Nigeria and Julius Berger led the chart.
Market activity dropped further from the previous level as the volume of trades recorded 150 million units as against 165 million shares traded in the previous trading session, amounting to 8.98 per cent decline. Value of traded shares followed suit to record a total of N1.978 billion, a 15.53 per cent decline from the previous value of N2.341 billion.
In order of appearance, Mutual Benefit, FBN Holdings, Access Bank, WAPCO and Guaranty Trust Bank ended the trading day as top performers in terms of volume while MTN Nigeria, Guaranty Trust Bank, WAPCO, Zenith Bank and FBN Holdings made up the top five performers in terms of the value of units traded on Tuesday.
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