The Nigerian equity market continued its downtrend on Tuesday as the Nigerian Stock Exchange suspended companies from trading due to failure to meet deadline for filing.
The All Share Index (ASI) was down by 219.47 absolute points, representing a decline of 0.74 per cent to close at 29,395.14 points, while the Market Capitalization shed N93.86 billion, representing 0.72 per cent decline to close at N12.96 trillion.
Companies affected by the suspension were Conoil Plc, FTN Cocoa Processors Plc, Goldlink Insurance Plc, Guinea Insurance Plc, Lasaco Assurance Plc and Niger Insurance Plc.
Others were R.T. Briscoe (Nigeria) Plc, Resort Savings & Loans Plc, Royal Exchange Plc, Standard Alliance Insurance Plc and Universal Insurance Plc.
The Exchanged explained that the suspension would be lifted whenever the affected companies file their results and it is confirmed that they meet regulatory requirements.
Cement Company of Northern Nigeria (CCNN) gained 8.11 per cent to top the 13 gainers list, while Chams shed -9.68 per cent to emerge top loser among 22 others.
A total of 200.69 million shares worth N2.89 billion were traded in 4,856 deal with GTBank emerging the most active stock, trading 24.43 million shares valued at N742.15 million.