The equities market, after a day of bullish session, reversed its bullish trend on Tuesday, recording a loss of N1.33 trillion due to sell-offs.this
Sell-offs in major stocks like: Dangote Cement, RT Briscoe, Royal Exchange, Jaiz Bank, WAPIC Insurance and 34 other stocks drove the market into negative territory.
The market capitalisation of listed equities dropped by N1.33 trillion, or 1.46 per cent, from N91.561 trillion to close at N90.227 trillion.
Similarly, the All-Share Index (ASI) declined by 1.46 per cent, shedding 2,109 points to close at 142,613.47 compared to the previous day’s 144,722.47.
Also, the market breadth closed negative with 39 losers and 26 gainers.
Royal Exchange led the losers’ chart by 10 per cent, settling at N2.52 while Dangote Cement dropped by 9.88 per cent, finishing at N520 per share.
RT Briscoe fell by 9.87 per cent, settling at N3.56 and Jaiz Bank dipped by 9.81 per cent, ending the session at N4.32 per share.
Similarly, WAPIC Insurance shed by 9.77 per cent, closing at N3.60 per share.
On the gainers’ chart, Nigerian Enamelware increased by 9.95 per cent, settling at N35.90 while DAAR Communications soared by 9.82 per cent, ending the session at N1.23 per share.
Deap Capital Management and Trust climbed by 9.60 per cent, finishing at N1.94 and Academy Press rose by 8.43 per cent, closing at N9 per share.
Also, International Breweries gained by 6.95 per cent, settling at N13.85 per share.
Meanwhile, the day’s data revealed a decline in volume and transactions with an improvement in turnover as 1.03 billion shares valued at N17.66 billion were traded across 34,352 transactions.
This is compared to the 1.15 billion shares valued at N16.17 billion that was exchanged across 38,160 transactions earlier on Monday.
Transactions in the shares of Universal Insurance topped the activity chart with 130.22 million shares valued at N173.67.
AIICO Insurance followed with 100.11 million shares worth N437.56 million while Mutual Benefits Assurance transacted 68.52 million shares valued at N310.65 million.
Prestige Assurance sold 66.87 million shares worth N135.4 million and Regalins traded 46.14 million shares valued at N69.26 million.
