The stock market closed on a bearish note on Tuesday as market capitalization dropped by N25 billion or 0.09 percent to close at N28.656 trillion, compared with N28.681 trillion recorded on Monday.
The All-Share Index (ASI) also went down by 45.14 basis points or 0.09 percent to close at 52,612.55 from 52, 657.69 posted in the previous session.
The weak performance of the market was largely driven by profit-taking in Zenith Bank, Guaranty Trust Holding Company (GTCO), and Nigerian Breweries stocks.
Consequently, the year-to-date (YTD) return fell to 2.66 percent.
Market breadth closed on a positive note as 15 stocks posted gains, while 11 stocks recorded losses.
Mutual Benefits led the gainers’ chart in percentage terms by 10 percent to close at 33k per share.
Unilever followed with a 9.91 percent gain to close at N12.20, while C&I Leasing rose by 9.84 percent points to close at N3.46 per share.
Associated Bus Company appreciated by 9.68 percent to close at 34k, while International Energy Insurance garnered 8.16 percent to close at 53k per share.
Conversely, Nigerian Breweries dominated the losers’ chart in percentage terms with 9.9 percent to close at N41.85 per share.
Caverton Offshore Technology followed with a 9.52 percent loss to close at 95k per share while Champion Breweries declined by eight percent to close at N4.60 per share.
Wapic Insurance lost by 6.67 percent points to close at 42k, while NGX Group depreciated by 5.93 percent points to close at N25.40 per share.
Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 171.53 percent.
A total of 182.40 million shares valued at N4.82 billion were exchanged in 3,470 deals.
