Nigeria’s stock market on Tuesday reversed preceding day’s gains as investors moved into Custom Street to take profit in attractive counters like BUA Cement Plc, MTNN Plc, Zenith Bank Plc, Okomu Oil Palm Plc and GTBank Plc after recent rally that pushed the stocks higher. Investors booked over N393billion loss at the sound of trade closing gong.

At the close of trading, the Nigerian Stock Exchange (NSE) All-Share Index depreciated by 1.83percent, from preceding day high of 41,147.39 points to 40,396.14 points while the value of listed stocks decreased from a high of N21.515trillion to N21.122trillion.

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In 7,573 deals, investors exchanged 465,673,145 units valued at N5.117billion. Transcorp, Zenith, FCMB, Japaul Gold and Access Bank were actively traded stocks on the Bourse.

BUA Cement dipped most, from N85 to N80, losing N5 or 5.88percent, followed by MTN N which decreased from N169.9 to N165.2, losing N4.7 or 2.77percent.

Zenith Bank dropped from a high of N25.7 to N24.6, shedding N1.1 or 4.28percent, Okomu Oil dropped from N91 to N90, losing N1 or 1.10percent, while GTBank was down from N33.5 to N32.55, shedding 95kobo or 2.84percent.

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Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

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