The Nigerian Stock Market, on Tuesday, January 10, reversed the positive trend as investors booked profit across all sectors.
Market capitalisation of the bourse crashed by N80.5 billion to close at N9.065 trillion, in contrast to N113.1 billion gained on Monday, January to close at N9.146 trillion.
The negative run was triggered by sectoral losses. The Banking index dipped by 2.81 percent, The Main Board shed 1.05 percent and the NSE 30 fell by 1.04 percent. The NSE Oil and Gas Index however recorded a growth of 0.15 Percent consequent on gains in Total and Oando.
Investor sentiments weakened as market breadth closed negative with 19 gainers against 25 losers. Cutix was the top of the losers chart dropping 9.52 percent to close at N1.71. Meanwhile, UAC-Prop, headed the advancers stocks by 5 percent to close at N3.15 per share.
Financial Services stocks retained their positions at the top of activity chart, as Omoluabi Savings and Loans emerged the topmost traded stock with 93.5 million shares worth N83.9 million. Fidelity Bank followed with 39.4 million shares worth N36.0 million while FCMB was next with 37.1 million shares amounting to N49.4 million.
Custodian and Allied Insurance came fourth on the day’s activity chart having traded 35.9 million units of shares valued at N134.8 million while Diamond Bank was fifth with 27.9 million shares worth N27.9 million.
At the end of Tuesday’s trading session, equity investors exchanged 219 million units of shares valued at N1.4 billion in 3,423 deals.
