The stock market closed lower on Tuesday, May 10, after a two-day upward trajectory which had lifted the market capitalization on Monday and last week Friday.
However, as stocks of market heavy weights struggled, market capitalization shed N62.5 billion to close at N8.8 trillion.
The negative performance stemmed from losses recorded by bellwether counters across sectors including Dangote Cement Plc, Forte Oil Plc, Lafarge Africa Plc and FBN Holdings Plc.
However, in terms of sectoral performance, the NSE Consumer Goods rose 1.0 per cent on the back of gains by Unilever Nigeria Plc. Similarly, the NSE Banking Index appreciated by 0.6 per cent given the gains recorded by Diamond Bank Plc, Sterling Bank Plc and Zenith Bank Plc.
Conversely, the NSE Oil & Gas Index, NSE Industrial Goods Index and NSE Insurance Index fell by 1.6 per cent, 2.4 per cent and 4.4 per cent respectively.
