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Equity market lose N70bn, sell-off persists

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The Nigerian bourse on Tuesday closed lower to reverse the previous day gain as bears regained their grip following the sell-off that have persisted on the equities market.

Market breadth closed negative as Total Oil Nigeria le 16 other losers to close the trading session on the negative.

Market capitalisation of equities depreciated by N70bn from N12.93tn the previous day to N12.86tn as market sentiment returned on the negative territory. The premium sub-sector was the most active ; with 58.69million shares exchanged by investors in 1,482 deals. Also, the insurance sub-sector boosted by the activities in the shares of Mutual Benefits Assurance Plc and Cornerstone Insurance Plc followed with a turnover of 31.67 million shares in 137 deals.

 

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