File: Nigerian Exchange trading floor
The domestic equities market closed Tuesday’s trading session on a bearish note, as price depreciation in MTN Nigeria Communications Plc and 25 others dragged the overall market capitalisation lower by N1.17tn.
Consequently, the All-Share Index dropped by 1,806.18 points, or 0.73 per cent, to close at 246,723.57. Similarly, the market capitalisation shed N1.17tn to settle at N159.26tn.
The downturn was primarily driven by sell-offs in large- and medium-capitalised stocks, including MTNN, UACN, Dangote Sugar Refinery, Nigerian Aviation Handling Company, and First Holdco.
Despite the broader market decline, market breadth closed positive with 27 gainers against 26 losers.
