By FELIX OLOYEDE
The decline by Dangote Cement and 11 stocks sustained the Nigerian equity marketing losing streak as it dipped 0.71 per cent on Tuesday, despite the appreciable gain recorded by the banking sector.
The All-Share Index (ASI) shed by 162.12 absolute points, representing 0.71 per cent dip to close at 22,543.07 points, on the back of massive sell-off.
Also, the Market Capitalization lost N84.49 billion, declining 0.71 per cent to close at N11.75 trillion as the bourse posted 16.02 per cent loss this year.
Access Bank, WAPCO & UCAP all added 10 per cent to emerge top gainers, while Dangote Cement & NASCON, shed 10 per cent to losers’ table.
The Banking sector, buoyed by gains by Access Bank, GTBank and Zenith Bank, recorded the highest gain, appreciating 5.59 per cent. The insurance sector was also up .85 per cent.
Sell-off pressure on MTNN dragged the industrial goods sector 2.16 per cent.
The most active stocks by volume were Zenith Bank (173.93 units), GTBank (131.06units) and FBNH (119.26m units), while GTBank (₦2.57bn), Zenith Bank (₦2.3 1bn) and Nestle (₦745.3 8n) led by value.
The volume and value of equities investors traded were up by 23 per cent and 40 per cent to 675mn units and ₦8bn respectively.