LAGOS, Nigeria (VOICE OF NAIJA)-The Nigerian equity market experienced a significant loss of N92.32 billion on Tuesday.
This was majorly driven by declines in National Salt Company, Thomas Wyatt Nigeria, May and Baker Nigeria, and 16 other stocks.
The market capitalization and the all-share index both fell by 0.16%, closing at N56.36 trillion and 99,630.51 points, respectively.
This downturn also affected the year-to-date return, reducing it from 33.5% to 33.24%.
READ ALSO: Nigerian Equity Market Gains N954 Billion As Market Capitalization Hits N56.17 Trillion
Despite the overall market decline, market breadth remained positive, with 29 stocks advancing and 19 declining across 8,064 deals.
Total Nigeria led the gainers with a 9.98% increase, closing at N388.90. Presco followed, rising by 9.97% to N323.30, while UPDC Leveraged gained 9.92% to end at N1.33.
Conversely, the top decliners included National Salt Company, which dropped by 9.91% to N36.80, Thomas Wyatt Nigeria, down by 9.66% to N1.59, and May and Baker Nigeria, which fell by 7.13% to N5.60.
In terms of trading volume, Fidelity Bank topped the chart with 293.18 million shares traded in 340 deals, followed by Nigerian Breweries with 101.584 million shares in 145 deals.
This drop follows a positive performance on Monday when the equity market gained N323 billion, buoyed by increases in Flour Mills Nigeria, Total Nigeria, Access Holding, and 27 other stocks.