respectively. This is against the 0.16 per cent drop it opened the week.
Specifically, the market capitalisation, which opened the week at N25.477 trillion to close Monday trading at N25.436 trillion, dropped additional N79 billion on Tuesday to close at N25.357 trillion.
The All Share Index (ASI) dropped by 146.15 points to close at 47,057.28 from 47,203.39 achieved on Monday.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are: BUA Foods, UPDC Real-estate, Cutix and MTNN. Others include UPL, Unilever, Mutual Benefits, Caverton, Fidson and FG142037S2.
Overall, the market witnessed a mixed reaction with 22 stocks losers relative to 18 gainers.
Courtville led the losers’ chart with 7.29 per cent followed by UPDC, UPL, Unilever, BUA Foods, Mutual Benefits and Cutix with 5.66 per cent, 5.41 per cent, 4.36 per cent, 4.04 per cent, 3.85 per cent and 3.61 per cent to close at N0.51, N1.00, N2.45, N13.15, N61.80, N0.25 and N2.40 respectively.
On the other hand, Presco led the gainers chart with an increase of 10 per cent to close at N104.50 per share. This was followed by NEM insurance with a gain of 9.97 per cent to close at N3.31, while Ikeja Hotel appreciated by 9.77 per cent.
Sunu Assurance improved by 9.09 per cent to close at N0.36, while AIICO, Oando and Multiverse appreciated by 5.80 per cent, 5.68 per cent and 5 per cent respectively.
Also, the total volume of trades reduced by 16.56 per cent to 230.216 million units exchanged in 4,826 deals. This was in contrast with 285.478 million shares traded in 5,342 deals on Monday.
Transactions in the shares of the financial services sector were the major drivers of the total volume of shares traded in the market Tuesday. Guaranty Trust Bank led with a volume of 32.354 million shares followed by Zenith Bank, Fidelity Bank, Transnational Corporation of Nigeria and Access Bank with 24.325 million shares, 22.295 million shares, 21.397 million shares and 10.167 million shares respectively.
