In line with analysts expectations, the Nigerian bourse stumbled for the second time this week as investors continued to weigh the risks of looming second wave of the Coronavirus.
Sell pressure on a number of mid/large cap stocks pushed the market to close in the red on Tuesday June 16.
The Nigerian Stock Exchange (NSE) All Share Index (ASI) decreased by 0.09 percent to 24,930.88 points from preceding day high of 24, 954.32 points.
The value of listed stocks decreased N13.005trillion. In 4,194 deals, equity dealers exchanged 200,392,700 units valued at
Despite increased bargain in stocks like BUA Cement Plc and Fidson Healthcare Plc, record dip in prices of stocks like Flourmill, MTNN and Ardova Plc aided the southward close.
Flourmill led the laggards after its share price moved N20.95 to N19.55, losing N1.4 or 6.68percent.
MTNN followed after moving from N116 to N115, down by N1 or 0.86percent while Ardova decreased from N14.4 to N13.75, losing 65kobo or 4.51percent.
This year, the market has decreased by -7.12 percent while this month it has declined by -1.33 percent.
Barring any positive news capable of lifting sentiment, the market may continue on this trajectory on Wednesday.