The stock market closed on a negative note on Tuesday, reversing the gains recorded in the previous trading session as investors lost N599 billion.
This followed a day bullish streak in the market.
The downturn was driven by selloffs in stocks such as Multiverse Mining, Livingtrust Mortgage Bank, Mc Nicholas, Thomas Wyatt Nigeria, Eterna and 35 other declining equities.
Market capitalisation fell by 0.38 per cent, shedding N599 billion from an opening value of N158.614 trillion to close at N158.015 trillion.
Similarly, the All-Share Index declined by 927.70 points or 0.38 per cent, dropping from 245,730.53 to close at 244,802.83.
This led to the Year-To-Date (YTD) return declining to 57.32 per cent.
Similarly, the market breadth closed negative, recording 40 losers against 13 gainers.
Multiverse Mining and Livingtrust Mortgage Bank led the losers’ chart by 10 per cent each, ending the session at N22.95 and N3.42 per share respectively.
Also, Mc Nicholas dropped by 9.92 per cent, clos
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