The Nigerian equities market continued its downward trajectory on Tuesday, weighed by persistent profit-taking in key blue-chip stocks.

The NGX All-Share Index (ASI) fell 0.09 percent to close at 155,353.20 points, trimming the month-to-date and year-to-date returns to +8.9 percent and +50.9 percent, respectively.

 

Market capitalization shed N90.73 billion to settle at N98.61 trillion, reflecting cautious sentiment among investors despite sustained optimism about market fundamentals and upcoming third-quarter earnings releases.

Selloffs in Zenith Bank, Lafarge Africa, United Bank for Africa and Access Holdings were the main drags on the index, having appreciated by 3.2 percent, 1.7 percent, 1.5 percent and 2.3 percent, respectively.

Overall market sentiment remained negative, with 36 decliners outpacing 27 gainers.

On the gainers’ chart, Sovereign Insurance, Aso Savings and Loans, Berger Paints, Coronation Insurance and AIICO Insurance recorded notable advances. Conversely, McNichols, Lasaco Insurance, John Holt, Livestock and Ikeja Hotel led the day’s losers

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