Stock investors recorded a significant loss of N671bn on Tuesday at the Nigerian equity market which had posted a strong start at the beginning of the second half of the year.
The All-Share Index closed at 60,715.04 index points, 1.99 percent less than the 61,949.24 index points it recorded at the end of the previous trading day.
In a remarkable one-day loss, the market value of shares fell by N671bn, (1.99 percent), to N33.06tn at the close of trading. This was from N33.731tn recorded in the previous day’s session.
CHIPLC, ETERNA, and CHAMS topped the gainer’s list, appreciating by 10 percent, 9.96 percent and 9.88 percent, respectively.
LASACO, PZ, and WEMABANK led the losers, going down by -13.86 percent, -10.00 percent and –9.98 percent respectively.
The value of shares exchanged stood at N12.21bn, 13.03 percent lower than the N14.04bn recorded in the previous day’s session.
In terms of volume, 1.11 billion shares were exchanged, in contrast to 1.20 million traded during the previous session.
FCMB, STERLING and TRANSCORP ranked as the most traded stocks, with 180.75 million, 107.54 million and 105.87 million units of shares traded respectively.
Value-wise, the top three traded shares were ACCESSCORP (N1.34bn), UBA (N1.12bn), and FCMB (N981.47m).
Tuesday’s bearish trend brings to an end a market rally that saw investors record impressive gains to close the first half of the year on a positive note.
The N671bn loss eclipses the N533bn gain recorded on Monday, as investors chose to take profit following an impressive market rally streak.
