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.
