The Nigerian equity market on Tuesday bowed to profit taking by traders and speculative investors with the market indicators dropping by 0.61 per cent.Reports said that the All-Share Index lost 163.29 points or 0.61 per cent to close at 26,655.48 against 26,818.77 achieved on Monday.
Also, the market capitalisation which opened at N9.228 trillion shed N56 billion to close at N9.172 trillion due to price loses.
Forte Oil recorded the highest price to lead the laggards’ table, dropping by N19.68 to close at N205.32 per share.
Total trailed with a loss of N5 to close at N170, while Unilever dropped N1.55 to close at N32.80 per share.
Zenith Bank dipped 59k to close at N14.44 and Vitafoam depreciated by 47k to close at N4.43 per share.
Conversely, Nestle led the gainers’ table, increasing by N3 to close at N725 per share.
Nigerian Breweries followed with a gain of N2.02 to close at N125.02 while Conoil gained N1.99 to close at N23 per share.
Union Dicon Salt also advanced by 66k to close at N13.86, while Flour Mills added 50k to close at N23.50 per share.
However, the volume of shares traded closed higher with a turnover of 396.03 million shares worth N2.66 billion transacted in 5,513 deals.
This was in contrast to a total of 320.99 million shares valued at N2.11 billion exchanged in 4,524 deals on Monday.
UBA emerged the most traded stock, exchanging 65.77 million shares worth N265.86 million.
Access Bank followed with a total of 55.89 million shares valued at N288.81 million, while Transcorp sold 41.93 million shares worth N48.66 million.
Oando traded 34.51 million shares valued at N209.46 million and Zenith Bank exchanged 33.95 million shares worth N571.25 million.