The Nigerian stock market closed down on the second trading session of the week amid sell off in some capitalized stocks. The market capitalisation which opened at N8.400 trillion, decreased by N115 billion, to close at N8.285 trillion, yesterday. Similarly, the All-Share Index depreciated by 332.39 points or 1.36 per cent to close at 24,090.98 on Tuesday.
Market breadth was negative with 13 gainers and 26 losers. Unity Bank led the gainers’ table with 7.94 per cent, to close at 68 kobo per share. Wapco followed with a gain of 4.99 per cent to close at N84.52, while Honeywell Flour advanced by 4.38 per cent to close at N1.43 per share.
Continental Reinsurance gained by 3.33 per cent to close at 93 kobo, while United Capital went up by 3.05 per cent to close at N1.35 per share. Diamond Bank led the laggards’ table by 7.38 per cent to close at N1.38 per share. Champion Breweries trailed with a loss of 4.91 per cent to close at N2.71, while Oando declined by 4.90 per cent to close at N3.30 per share.
Dangote Cement declined by 4.88 per cent to close at N133, while Livestock shed by 4.80 per cent to close at N1.19.
The volume of shares transacted went down by 94.2 per cent as investors traded 201.5 million shares valued at N1.3 billion in 1,875 deals. FBN Holdings emerged the most-traded equity, with 66.62 million shares worth N246.95 million. Beco Petroleum came second on the activity chart with 25 million shares valued at N12.5 million, while Guaranty Trust Bank traded 15.93 million shares worth N263.54 million.