The equities market closed for the fifth consecutive day in red, as the All Share Index depreciated by 1.95 percent on Tuesday after shedding 523.27 points to close at 26,364.27 points.
Market capitalisation also dropped to N9.075 trillion, following a loss of N180 billion in the course of the day’s trade.
The day’s performance was heightened by value depreciation recorded by Dangote Cement that lost N8.42 or 4.88 percent to close at N164 per share while other high capitalized stocks, such as, Forte Oil, WAPCO, Okomu oil and UACN contributed significantly to the day’s losses.
Again, market breadth was negative, with 13 gainers paired against 26 losers. Champion Breweries led the losers’ chart by 9.47 percent, to close at N2.39 per share. Forte Oil and UACN shed 5.00 percent each to close at N113.72 and N17.67 respectively, while WAPCO and Okomu oil declined by 4.99 and 4.89 percent each to close at N52.14 and N44.70 per share respectively.
On the other hand, GlaxoSmithKline and CAP Plc recorded the highest gain of 5.00 percent each to close at N15.75 and N34.02 per share respectively.
Air Service Plc followed with a gain of 4.89 percent to close at N2.79 per share, while Eterna Oil Plc rose by 4.35 percent to close at N3.36 per share as Unity Bank went up by 3.33 percent to close at 62 kobo per share.
Market performance as measured by the total volume traded, went up by 64 percent to 189.01 million units valued at N1.6 billion transacted in 3,434 deals in contrast to 115.04 million shares, valued at N1.16 billion, traded in 2,963 deals on Monday.
Transactions in the shares of Chams Plc topped the activity chart with 40.1 million shares valued at N20.1 million. UBA Plc followed with 28.6 million shares worth N122.8 million, while Transcorp Plc traded 18.0 million shares valued at N16.1 million.
Guaranty Trust Bank Plc with the trade of 16.8 million shares worth N359.8 million bagged the fourth position on the activity chart, while Zenith Bank Plc came fifth having sold 14.1 million shares valued at N207.7 million.