Investors on the Nigerian Exchange, NGX, recorded a significant N1.17 trillion loss on Tuesday as the market reversed its four-session bullish run.
The decline came as the NGX market capitalisation fell by 0.73 per cent, from N160.421 trillion to N159.255 trillion.
Similarly, the All-Share Index, ASI shed 1,806.18 points to close at 246,723.57 points.
Consequently, the market’s year-to-date return declined to 58.55 per cent, despite the positive market breadth, which recorded 28 gainers against 27 losers.
Thomas Wyatt Nigeria led the losers’ chart, declining by 9.97 per cent to close at N2.89. AVA Capital followed with a 9.60 per cent decline to N8.95, while International Energy Insurance dropped 6.32 per cent to N4.
International Breweries also shed 5.98 per cent to close at N11.
On the other hand, UPDCREIT led the gainers’ chart, rising by 10 per cent to close at N14.85. FTN Cocoa Processors followed, gaining 9.88 per cent to close at N8.90.
C&I Leasing gained 8.26 per cent to N5.90, while Sovereign Trust Insurance advanced 6.74 per cent to N1.90. Regency Alliance Insurance also rose by 6.33 per cent to 84 kobo.
Trading volume surged to 3.909 billion shares valued at N32.38 billion in 45,608 deals, compared with 1.137 billion shares worth N27.02 billion exchanged in 59,185 deals on Monday.
Fortis Global Insurance dominated trading, accounting for 3.29 billion shares worth N9.58 billion. This represented 84.22 per cent of the total volume and 29.57 per cent of the total value traded.
Investors record N1.17tn significant loss as NGX reverses gain