After a six-day bullish run on the floor of the Nigerian Exchange Limited as a result of profit-taking activity, the stock market lost N37 billion on Tuesday.
The All-Share Index fell 67.98 absolute points, or 0.13%, to 54,299.76 points at the close of trading.
In a similar vein, the value of the market as a whole lost N37 billion to end at N29.576 trillion.
Price declines in large and medium-capitalized stocks like Geregu Power, Dangote Cement, Nigerian Exchange Group, Ardova, and UAC of Nigeria fueled this bearish sentiment.
Market breadth was negative at the close, with 20 gainers outperforming 26 losers. Conoil’s share price increased the most, by 10%, to N29.50 at the close.
MRS Oil Nigeria came in second with a gain of 9.82% to close at N21.25, and International Energy Insurance followed with a gain of 9.35% to close at N1.17 per share.
Wapic Insurance gained 4.65% to close at N0.45 kobo, per share, while GlaxoSmithKline Consumer Nigeria gained 6.92 percent to close at N6.95.
Japaul Gold & Ventures, on the other hand, lost 9.38 percent to close at N0.29 kobo, leading the losers’ chart. FCMB Group, on the other hand, lost 7.82 percent to close at N4.60 per share.
Royal Exchange lost 7.32% to close at N0.76 kobo, while Linkage Assurance and UACN each lost 6.12% to close at N0.46 kobo and N9.20 per share, respectively.
In the meantime, 4,380 deals exchanged 200.035 million units worth N7.622 billion, an increase of 4.38% in total volume.
The activity chart showed the most transactions, with 27.983 million shares of FCMB Group worth N130.017 million.
Sterling Bank traded 18.837 million shares worth N28.934 million, while Geregu Power traded 21.130 million shares worth N4.176 billion.
Zenith Bank traded 14.670 million shares for N366.988 million, while Transnational Corporation of Nigeria traded 15.768 million shares for N21.164 million.
