Investors lost about N184bn at the close of Tuesday’s trading on the Nigerian exchange, reversing the N101bn gained in the previous day.
The All-Share Index moderated by 0.33 per cent to 101,707.70 points and the market capitalisation dropped by the same percentage to N 55.652tn as the year-to-date gain of the index slipped to 36.02 per cent.
The negative result of the ASI also impacted the sectoral indices as three out of the five sub-sectors recorded adverse movements.
The Banking index led the losers with a 1.85 per cent decline, driven by sell pressure in Unity Bank, Wema Bank, United Bank for Africa and Zenith Bank Plc. The Consumer and Industrial Goods indexes lost 0.22 per cent and 0.10 per cent, respectively, majorly due to share price decline in PZ, Cussons, Guinness Nigeria, Nigerian Breweries and Lafarge Africa.
Meanwhile, the Insurance and Oil/Gas sectors advanced by 1.13 per cent and 0.09 per cent, respectively.
Trading activity on the NGX displayed a varied trend, with the total deals and value declining by 1.16 per cent and 16.09 per cent to 8,614 trades and N4.3bn, respectively; while the total traded volume for the day increased by 8.56 per cent to 263.19 million units.
At the close of trading, there were more losers at 30 than gainers which were 24 securities.
PZ, MORISON and Computer Warehouse Group took a beating as they lost 9.87 per cent, 9.84 per cent and 9.70 per cent, respectively.
The gainers included Honeywell Flour Mill, Juli Plc and Cornerstone Insurance, whose share prices appreciated by 9.92 per cent, 9.90 and 9.88 per cent, respectively.
VeritasKap emerged the most traded security in terms of volume with 49.07 million units changing hands in 143 deals, while UBA led in traded value at N587.50m.
