The Nigerian Exchange Limited closed Tuesday’s trading session in the red, as investors booked profits on key tickers including MTN Nigeria Communications Plc, Livestock Feeds Plc, and Multiverse Mining and Exploration Plc.

The sell-off led to a decline of N116bn in market capitalisation.

The All-Share Index fell by 0.17 per cent to close at 97,978.02 points, down from 98,146.93 points recorded in the previous session. Consequently, the market capitalisation of listed equities dropped from N66.70tn to N66.59tn.

Despite the negative sentiment, trading activity saw a jump. Investors exchanged 666.51 million shares, representing a 66.01 per cent increase compared to the 401.52 million shares traded on Monday. The total value of transactions also surged by 191.08 per cent to N35.27bn from N12.11bn, executed across 16,619 deals.

Fidelity Bank Plc emerged as the most actively traded stock by volume, with 285.65 million shares changing hands. Access Holdings Plc and Transnational Corporation Plc followed, recording 58.34 million and 25.14 million shares respectively. On the value chart, Nigerian Breweries Plc topped with trades worth N17.33bn, trailed by Fidelity Bank Plc with N3.86bn.

and Access Holdings Plc with N1.21bn.

In terms of sectoral performance, the Banking and Insurance indices posted gains of 0.43 per cent and 0.13 per cent, respectively. Conversely, the Oil and Gas index dipped by 0.58 per cent, and the Consumer Goods index lost 0.07 per cent. The Industrial Goods index closed flat.

On the gainers’ chart, Legend Internet Technologies Plc, Cadbury Nigeria Plc, and ABC Transport Plc all appreciated by 10.00 per cent. They were followed closely by Computer Warehouse Group Plc, which gained 9.91 per cent, and Morison Industries Plc, which added 9.76 per cent.

The losers’ chart was led by Livestock Feeds Plc, which declined by 10.00 per cent. Multiverse Mining and Exploration Plc dropped by 9.89 per cent, Royal Exchange Plc lost 9.38 per cent, while Secure Electronic Technology Plc and Omatek Ventures Plc fell by 8.70 per cent and 8.33 per cent respectively.

Overall, 33 stocks gained in value, 18 declined, while 74 closed flat. Analysts noted that the market’s cautious mood reflects investors’ mixed reactions to corporate earnings reports and broader macroeconomic uncertainties.

The PUNCH reported that the Nigerian stock market extended its bullish momentum on Monday, as gains recorded in the shares of International Breweries, Cadbury Nigeria, and other blue-chip companies lifted the market capitalisation by N228.48bn.