Equities trading on the Nigerian Stock Exchange suffered further losses on Tuesday as the All Share Index (ASI) dropped 0.34 percent or 84.99 points to close at 25, 233.42 points from Monday’s closing figure of 25,318.41 points.
Market capitalisation closed at N8.686 trillion following further depreciation of N29.3 billion, compared to N5.2 billion lost on Monday when market capitalisation closed at N8.715 trillion.
Forte Oil led the day’s retreating stocks, with a 9.74 percent depreciation to close at N53.85 and Oando lost 5 percent to close at N3.61 per share. Transcorp Hotel trailed with a decline of 4.90 percent to close at N5.24 per share while Fidelity Bank lost 4.88 percent to close at 78 kobo per share. Honeywell closed the day at N1.02 per share following a depreciation of 4.67 percent.
On the other hand, Mobil led the day’s appreciating stocks with a 10.25 percent appreciation to close at N241.89 per share. UPL followed with a 4.87 percent growth to close at N4.09 per share, while UAC-Prop recorded a gain of 4.68 percent to close at N2.46 per share.
Total recorded a 3.83 percent growth to close at N254.85 per share and AIICO Insurance added 3.51 percent to close at 59 kobo per share.
On the flip side, Wema Bank emerged the most traded stock for the day with 356.2 million shares valued at N181.3 million, Diamond Bank followed with 63.6 million units of shares worth N57.5 million while FCMB came third with the sale of 14.6 million shares worth N15.0 million.
Eco Transnational Incorporated (ETI) traded 9.5 million shares worth N92.9 million and Wapic Insurance sold approximately 6.9 million shares at N3.5 million.
Investors traded a total of 511.6 million shares at the end of Tuesday’s trading session. The shares traded in 2,342 deals, were worth N1.695 billion and represented a 153 percent growth from 202.4 million shares worth N1.616 billion, exchanged in 2,558 deals on Monday.