BY BAMIDELE FAMOOFO
The market capitalization of the Nigerian Exchange Limited dropped by N672.03 billion on Tuesday as the market index declined by 1.99 percent weaker at 60,715.04 points.
Gains in PRESCO (+1.69%), FCMB (+4.26%) and TRANSCOHOT (+9.83%) were offset by selloffs in MTNN (-1.80%), BUACEMENT (-9.86%), and ZENITHBANK (-3.83%) keeping the market in the negative terrain.
Consequently, the year-to-date (YTD) return fell to 18.47 percent while market capitalisation closed at N33.06 trillion.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 13.04 percent.
A total of 1.11 billion shares valued at N12.21 billion were exchanged in 12,194 deals.
FCMB (+4.26%) led the volume chart with 180.75 million units traded while ZENITHBANK (-3.83%) led the value chart in deals worth N1.80 billion.
Market breadth closed negative at a 1.70-to-1 ratio, with declining issues outnumbering advancing ones. PZ (-10.00%) led 33 others on the laggard’s table, while ETERNA (+9.96%) topped 19 others on the gainer’s log.
