Nigerian bourse down by 1.16% Tuesday as profit taking continues

Trading activities on the Nigerian Stock Exchange, on Tuesday, declined further as market capitalisation lost 1.16 per cent even as the All-Share Index (ASI) closed at 44,389.85 basis points as against 44,912.53 points on Monday

Market capitalisation came down N15.90 trillion and market breadth favoured of the bears with 43 losers against 14 gainers, with the banking sector recording the greatest loss across the board with a daily change of -2.57 percent.

NSE ASEM maintained its previous close and the oil and gas sector index recorded the board’s only gain for the day.

Skye Bank Plc, FBN Holdings Plc, Wema Bank Plc, Diamond Bank Plc and Transnational Corporation Plc topped the equities market’s volume-based chart while Guaranty Trust Bank Plc, Zenith Bank Plc, FBN Holdings Plc, Stanbic IBTC and United Bank of Africa led the value-based rankings.

Trading levels shrunk with regards to both volume and value by -83.37 percent and -51.82 percent respectively. Monday’s close of 4.43 billion shares valued at N15.92 billion dropped to 737 million shares traded valued at N7.67 billion on Tuesday.