Market drop continues as index dips by 0.63%

Trading on the floor of the Nigerian Stock Exchange (NSE) on Tuesday closed on the negative with the All-Share Index falling by 0.63 per cent, losing 246.86 points to close lower at 38,975.16 compared with 39,222.02 posted on Monday.

The market capitalisation, which opened at N12.545 trillion, lost N79 billion or 0.63 per cent to close lower at N12.466 trillion.

A breakdown of the price movement chart showed that Nigerian Breweries led the price losers, shedding N4.99 to close at N165.02 per share.

Mobil Oil followed with a loss of N1.50 to close at N114.50, while PZ Cussons lost N1.30 to close at N36.50 per share.

On the other hand, Nestle topped the gainers' table, chalking up N53 to close at N1, 250 per share.

Total garnered N3.90 to close at N164, while CAP rose by N1.60 to close at N50.45 per share.

Flour Mills gained N1.40 to close at N85, while ETI rose by 71k to close at N14.99 per share.

In all, investors exchanged 449.13 million shares worth N4.81 billion in 6,247 deals, a decrease by 17.63 per cent.

This was against 545.25 million shares valued at N3.97 billion traded in 5,929 deals on Monday.

Transcorp, for the second consecutive day, emerged the most traded stock, accounting for 68.04 million shares worth N336.42 million.

Oando sold 44.14 million shares valued at N650.23 million, while Wapic Insurance accounted for 41.23 million worth N41.08 million.

GT Bank followed with 23.34 million shares valued at N860.14 million, while Access Bank sold 23.34 million shares worth N227.31 million.