Persistent Sell Pressure Shaves N91billion Off Equity Market Value

The heavy sell pressure rocking activities at the Nigerian Equities Market continued on Tuesday, June 28, as  market capitalization took a heavy fall.
The market capitalization which opened at N10.248 trillion shed N91 billion or 0.89 per cent to close at N10.157 trillion as investors continued to cave in to sell pressure.
Market downturn was heralded by price depreciation recorded in a handful of highly capitalized stocks, like Total, Guinness, GT Bank, Nigerian Breweries and Flour Mills.
As such, market breadth closed negatively as Red Star Express Plc led 15 gainers against 34 losers topped by Transcorp Plc at the end of the day’s trading session.
At the end of the day’s trading, a total of 255.25 million shares valued at N3.30 billion were exchanged by investors in 4,812 deals. This was in contrast with 375.21 million shares worth N4.03 billion traded by investors in 4,229 deals on Monday.

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