The equities market closed in a downward trend on Tuesday as market capitalization decreased by N58 billion, following losses recorded by large and medium capitalized stocks.

The overall market capitalization which lost N58 billion closed at N25.413 trillion from the N25.471 trillion recorded on Monday.

Also, the All-Share Index (ASI) decreased by 108.26 absolute points, representing a growth of 0.23 percent to close at 47,154.35 points from N47, 262.61 points the previous day.

The market’s negative performance was driven by price depreciation in large and medium capitalized stocks, which are: Con Oil, Jaiz Bank, Honeywell Flour, Linkage Assurance, and WAPIC Plc.

Market sentiment, as measured by market breadth, was negative, as 28 stocks depreciated in price, while 16 others constituted the gainers’ chart.

Jaiz Bank and Conoil recorded the lowest price loss of 10 percent each to close at 72 kobo and N23.85, while UPL followed with a loss of 9.97 percent to close at N 2.62.

NEM Insurance went down by 9.87 percent to close at N3.56. R.T Briscoe also depreciated by 9.68 percent to close at 56 kobos.

FTN Cocoa lost 7.69 percent to close at 36 kobos. while Pharmadeko Plc also shed 7.61 percent to close at N1.82.

On the other hand, Niger Insurance led the gainers’ chart by 9.52 percent to close at 23 kobos, while CHI Plc followed with a gain of 8.47 percent to close at 64 kobos. NGX Group appreciated with 6.97 percent to close at N22.25.

UPDC gained 5.55 percent to close at 95 kobos, while Union Bank of Nigeria also shed 3.33 percent to close at N6.20.

Also, VitaForm Plc and FIDSON Pharmaceutical company gained 2.82 percent and 2.45 percent each to close at N21.90 and N8.35, respectively.

Market activity as measured by both volume and value of trade gained weight in the session with daily traded volume standing at 754.933 million units, representing a 158.64 percent increase from 291.882 million units traded in the previous session.

The value of traded stocks inched up by 27.41 percent in the session to stand at N3.638 billion as against a value of N2.855 billion recorded on Monday.

Transactions in the shares of Zenith Bank Plc topped the activity chart with 14.268 million shares valued at N382.959 million.

Zenith Bank followed with 46.325 million shares worth N1.248 billion, while United Capital traded 31.575 million shares valued at N416.796 million.

Guaranty Trust Bank Holding Company (GTco) traded 26.353 million shares valued at N766.267 million, while United Bank for Africa (UBA) transacted 17.98 million shares worth N151.234 million.

The total volume of trades increased by 158.6 percent to 754.93 million units, valued at N3.64 billion and exchanged in 4,330 deals.

Unity Bank was the most traded stock by volume at 525.28 million units, while GTCO was the most traded stock by value at N766.26 million