Mixed earnings: Stock Exchange indicators maintain negative outlook

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The market capitalisation nosedive by N120 billion to close at N11.677 trillion against N11.797 trillion on Monday.

Activities on the Nigerian Stock Exchange , for the second consecutive day, maintained bearish trend, dropping further by 1.02 per cent due largely to mixed 2018 earnings reports.

The drop in market indices was contrary to expectations of some market analysts who were of the opinions that the market would rebound following relatively peaceful conduct of the general elections. Meanwhile, Mobil recorded the highest loss during the day, declining by N5.10 to close at N165 per share.

Africa Prudential increased by 12k to close at N4.92, while Union Bank of Nigeria gained 10k to close at N7 per share.

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