Stockbrokers at the floor of the Nigerian Stock Market
Nigerian Stock Exchange 2 770x470 4
Stockbrokers at the floor of the Nigerian Stock Market

The Nigerian equity market continued its bearish run, declining 0.99 per cent on Tuesday, causedhuge sell-off on consumer goods, oil/gas and banking sectors.

The All Share Index (ASI) of the Exchange was down 300.73 absolute points, representing a dip of 0.99 per cent, to close at 30,226.77 points.

Market Capitalization decreased by N169.01 billion representing a decline of 1.47 per cent, to close at N11.35 trillion.

The discrepancy between the NSE-ASI and its market capitalization was due to certain operational reasons on Access Bank Scheme shares, resulting from the merger between Access Bank Plc and Diamond Bank Plc which was not available for trading on Tuesday.

Wema Bank was the best performing stock, gaining 10 per cent to close at N0.77, while Sovereign Trust Insurance also gained 10 per cent to close at N0.22. Ikeja Hotel added 9.71 per to close at N2.26 to emerge the third most advancer.
On the hand, Beta glass emerged the top loser, dropping 9.95 per cent to close at N58.35, while Forte Oil shed 9.93 per cent to close at N24.95. Also, Nigerian Breweries declined 9.68 per cent to close at N56.90 to emerge the third top loser.

FCMB was the most actively traded stock with 53.8 million of its shares valued at N99.9 million traded in 111 deals.