Nigerian stocks shed 1.81 per cent or N364 billion on Tuesday, the deepest dive since March 9, as heavyweight equities including Airtel Africa, Presco and BUA Cement led a retreat that compound the loss of the day before.

The loss brought the market capitalisation below the N20 trillion mark.

The industrial index dropped 1.13 per cent to 1,907.24 basis points, worsening loss.

Market breadth, which gauges investor sentiment, closed on a negative note, with 23 losers reported against 18 gainers.

The all-share index contracted by 698.23 basis points to 37,847.07, while market capitalisation closed lower at N19.725 trillion.

Year to date, the index is down by 6.02 per cent.


Fidson led gainers, appreciating by 10 per cent to close at N5.06. Vitafoam went up by 9.68per cent to N9.68. Red Star Express rose to N3.67, notching up 9.55 per cent in the process.

Veritas added 9.09 per cent to end today’s trade at N0.24. Chams climbed by 5 per cent to N0.21.


Airtel was the worst performing stock, declining by 10 per cent to close at N678. Mutual Benefits shed 7.32 per cent to close at N0.38. Cornerstone fell to N0.51, losing 7.27 per cent.

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Learn Africa slumped to N1.01, recording 6.48 per cent depreciation. Ikeja Hotel closed at N0.91, going down by 6.19 per cent.


Altogether, 218.271 million shares estimated at N2.726 billion were traded in 3,524 deals.

Transcorp was the most active stock with 42.442 million units of its shares worth N37.209 million traded in 112 deals. Vitafoam traded 20.131 million shares priced at N27.157 million exchanged hands in 255 transactions.

Dangote Sugar had 17.634 million shares valued at N312.105 million traded in 140 deals. FBN Holdings traded 12.392 million shares estimated at N88.456 million in 182 transactions. Access traded 11.517 million shares valued at N98.379 million in 150 deals.


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