The Nigerian Stock Market has witnessed another bearish trend on Tuesday, as the All share index drop by 0.08% from 27,570.94 index points recorded on Monday to 27,547.56 points as at end of trade on Tuesday.
Also, the Equity market capitalization dropped by N12.17 billion, from N14.357 trillion to the closing value of N14.369 on yesterday.
Meanwhile, the drop was attributed to the sell-off recorded in large and medium stocks, a development that has eaten deep into the market as investors have lost N509.61 billion so far in the month of February, indicating 3.43% decline within 12 days of trades.
UAC Properties and Wapic Insurance both recorded the highest percentage gain in Tuesday’s trading session as they upped 10% each to close at N0.99 and N0.33 respectively.
C&I Leasing followed with 7.41% gain to close at N5.8 with Neimeth Insurance gaining 6.67% to close at N0.48 while Jaiz Bank rounded off the list with 4.41% gain to close at N0.71.
On the flip side, Law Union dipped the most with 4.81% loss to close at N0.99 followed by Japaul Oil, which dipped 4.76% to close at N0.2. Courteville Business Solutions lost 4.55% to close at N0.21, Linkage Assurance lost 4.35% to close at N0.44 while Vitafoam Nigeria rounded off the list with 3.19% loss to close at N4.55.
Top trades by volume
Zenith Bank traded in 48.99 million units of shares valued at N953.24 million in 522 deals to be the most actively traded stock for the day while GTBank followed with trades in 17.07 million units of shares at N494.85 million in 186 deals.
United Capital also attracted large stock sales as it traded in 15.64 million units of shares at N45.7 million across 172 transactions. On the list also is Access Bank, which traded in 12.83 million units of shares valued at N124.43 million across 159 deals while First Bank Holdings rounded off the list with trades in 10.31 million units of shares at N60.39 million across 270 deals.