Nigeria’s equities market closed further in the red zone on Tuesday as investors continued to take profit after previous week’s rally.

No thanks to Flour Mills which led the league of laggards after its share price dropped from a high of N40.75 to N37, losing N3.75 or 9.20percent; and GSK which also dropped from a high of N7.15 to N6.55, losing 60kobo or 8.39percent.

Also, Champion Breweries made the top laggards list after its share price decreased from N3.94 to N3.70, losing 24kobo or 6.09percent.

Read also: Stocks gain N6.3trn despite global headwinds

Meanwhile, share price of PZ rose most on the Nigerian Exchange, from N12.05 to N13.25, adding N1.20 or 9.96percent.

FCMB, Jaiz Bank, Transcorp, GTCO and International Breweries were actively traded stocks on the Nigerian Exchange Limited (NGX). In 6,449 deals, investors exchanged 1,323,730,306 shares valued at N7.724billion.

The Nigerian Exchange Limited All-Share Index (ASI) and Market Capitalisation decreased further by 0.36percent or N101billion on Tuesday to 52,756.62 points and N28.441trillion respectively, from 52,944.65points and N28.542trillion recorded the preceding day. Also, the market’s positive return year-to-date (YtD) by decreased further to 23.50percent.

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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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