The Nigerian stock market slipped back into the red on Tuesday, ending its one-day rebound with a loss of N71 billion.

Sell-offs in Austin Laz, Deap Capital Management, FTN Cocoa Processors, Regency Alliance Insurance, Champion Breweries, and 22 other equities dragged overall performance lower.

The market capitalisation, which opened at N89.626 trillion, declined by 0.08 per cent or N71 billion, to close at N89.555 trillion.

Similarly, the All-Share Index (ASI) shed 112.20 points, or 0.08 per cent, closing at 141,546.80 compared with 141,659.00 posted on Monday.

Market breadth closed negative, with 27 losers against 23 gainers.

Austin Laz led the losers’ chart, dipping 6.27 per cent to N2.69. Deap Capital Management followed with a 5.56 per cent loss to N1.70 per share. FTN Cocoa Processors declined by 4.84 per cent to N5.90, while Regency Alliance Insurance and Champion Breweries lost 4.40 per cent and 4.26 per cent to close at N1.74 and N15.30, respectively.

On the gainers’ side, Custodian Investment topped with a 9.94 per cent rise to N44.80.

Multiverse Mining advanced 9.68 per cent to N13.60, while Eunisell Interlinked and Etranzact International appreciated by 9.45 per cent each to close at N27.80 and N17.95.

Union Dicon Salt also gained 8.42 per cent to settle at N10.30 per share.

Overall, market activity declined compared with the previous session.

Investors exchanged 414.9 million shares worth N12.95 billion in 25,386 deals, against 555.1 million shares valued at N24.1 billion in 31,578 deals on Monday.

GTCO Plc led the activity chart in volume with 32.9 million shares valued at N3.1 billion.

Secure Electronic Technology followed with 32.5 million shares worth N26.4 million, while United Bank for Africa traded 26.2 million shares valued at N1.24 billion.

CHAMS sold 21.9 million shares worth N74.8 million, and Regency Alliance Insurance transacted 18.9 million shares valued at N33.5 million.

(NAN)