By Joy Baba-Yesufu
Nigeria’s equities market on Tuesday continued its movement into the negative territory as more investors sold stocks like Nestle, United Capital, and Africa Prudential.
Amid several corporate earnings releases, the stock market decreased by 0.31 percent or N171billion on Tuesday.
This record negative comes despite some analysts cautious optimism that the market will see increased activity as investors react to companies half year (H1)
Nestle Nigeria decreased most from N920 to N830, after losing N90 or 9.78percent. United Capital followed after its share price dropped from N37.80 to N34.05, losing N3.75 or 9.92 percent, while that of Africa Prudential also decreased from N10.45 to N9.45, losing N1 or 9.57percent.
In 10,447 deals, investors exchanged 399,385,857 shares worth N8billion. Zenith Bank, Prestige Assurance, UBA, Veritas Kapital Assurance, and United Capital were actively traded stocks on Tuesday.
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