Transactions on the Nigerian Stock Exchange (NSE) for the second consecutive day in the week closed on a negative note, cumulatively shedding 0.14 per cent of its value.
NAN reports that the NSE index on Tuesday closed lower at 34,600.42 points, compared with the 34,649.38 points posted on Monday.
The market capitalisation which opened at ₦11.767 trillion, lost ₦17 billion or 0.14 per cent, to close at ₦11.750 trillion.
Some market analysts attributed the persistent downward trend to profit taking by investors, who were taking advantage of price increase recorded by some equities.
They also linked the development to the “wait and see” attitude of investors, due to the forthcoming transition programme, to usher in a new administration.
NAN reports that Nestle topped the losers' table, declining by ₦14.25 to close at ₦935.75 per share.
Nigerian Breweries share price also lost ₦1 to close at ₦157, while Guinness also lost ₦1 to close at ₦169 per share.
Cement Company of Northern Nigeria followed with a loss of 58k to close at ₦11, while Mobil Oil shed 50k to close at ₦150 per share.
On the other hand, Total led the gainers' table, appreciating by ₦7.07, to close at ₦157.40 per share.
ConOil share price grew by ₦1.81 to close at ₦38.02, while Ecobank Transnational grew by ₦1.06 to close at ₦22.28 per share.
Lafarge Wapco also appreciated by ₦1 to close at ₦95, while the Vitafoam share price went up by 53k to close at ₦5.85 per share.
Overall, investors bought and sold 245.40 million shares worth ₦4.25 billion in 4,848 deals.
The market volume was against the 324.48 million shares valued ₦6.42 billion traded in 4,845 deals on Monday.
United Bank for Africa, for the second consecutive day, emerged the most-active, exchanging 40.59 million shares worth ₦211.05 million.
It was trailed by Access Bank with 29.33 million shares valued ₦176.01 million, while Zenith Bank accounted for 18.09 million shares worth ₦386.56 million.
Sterling Bank sold 15.28 million shares valued ₦32.73 million, while GT Bank traded 14.96 million shares worth ₦429.99 million.
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