Investors in the Nigerian equities market recorded a loss of N906 billion on Tuesday as trading closed on a negative note.
The downturn followed declines in the share prices of major stocks, including Guinness Nigeria, Union Dicon Salt Plc, and AIICO Insurance Plc, among others.
Data from the Nigerian Exchange Limited showed that the All-Share Index dropped to 241,750.15 points from 243,158.97 recorded in the previous session.
Similarly, market capitalisation declined to N155.1 trillion from N156 trillion, reflecting the overall bearish sentiment in the market.
Despite the losses, market breadth remained positive, with 46 stocks gaining, 26 declining, and 76 closing unchanged across 102,665 deals.
A total of 1.27 billion shares valued at N75.2 billion were traded during the session.
On the gainers’ chart, MC Nichols, RT Briscoe, and Zichis recorded the highest price appreciation, each rising by 10 per cent.
Conversely, Guinness Nigeria, Union Dicon, and AIICO Insurance led the laggards with declines of 10.00 per cent, 9.82 per cent, and 9.28 per cent, respectively.
In terms of trading volume, FCMB Group Plc led with 160 million shares, followed by Guaranty Trust Holding Company Plc and Access Holdings Plc.
On the value index, Guaranty Trust Holding Company recorded the highest turnover at N13 billion, while MTN Nigeria Communications Plc followed with N10.7 billion worth of traded shares.
Zenith Bank Plc also featured prominently, with transactions valued at N8 billion.
Market analysts say the decline reflects ongoing profit-taking and cautious investor sentiment amid prevailing economic conditions.
