Nigerian Stock Exchanging in trading session

The Nigerian Stock Exchange (NSE) has posted -10.28 per cent this year as investors continue to show negative sentiment towards the bourse.

The Nigerian equity market declined further on Tuesday, dragged down sell-off on large stocks.

The All Share Index dipped  140.15 points or 0.49 per cent to close at 28,200.88, having opened trading at 28,341.03.
The market capitalisation lost N68 billion, representing 0.49 per cent to close at N13.744 trillion.

Red Star Express emerged the topmost gainer amongst 10 advancers, appreciating 9.81 per cent to close at N5.71 per share.

Lasaco Assurance and NEM Insurance gained 9.68 per cent to close at 34k and 4.09 per cent to close at N2.29 per share respectively to emerge among the top three advancers.

CAP and Cement Company of Northern Nigeria (CCNN) lost -10 per cent each to close at N24.75 and N13.05 per share respectively to top the 32 losers list.

Investors traded a total of 217.13 million shares worth N1.8 billion traded in 3,595 deals, 23.95 per cent higher than the 175.17 million shares valued at N2.14 billion transacted in 3,111 deals the previous day.
FBN Holdings was the most active equity with 46.76 million shares valued at N266.24 million.
This was followed by Courteville Business Solutions with 46.74 million shares worth N9.46 million, while UBA traded 24.17 million shares valued at N136.49 million.

Analysts at Afrinvest projected that the market downturn would persist throughout the week as sell pressure continues to dominate activities.
Also, analysts at Cordros Capital  believed the outlook for equities in the short to medium term remained conservative in the absence of catalysts to drive positive market returns.

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