Nigerian stock market reverses gains as investors lose N599bn

The Nigerian stock market closed on a bearish note on Tuesday, reversing the gains recorded in the previous trading session as investors lost N599 billion in market value.
Market capitalisation declined by 0.38 per cent, dropping by N599 billion from N158.614 trillion at the opening of trading to N158.015 trillion at the close.
The benchmark All-Share Index, ASI also fell by 927.70 points, or 0.38 per cent, to settle at 244,802.83 from the previous day’s 245,730.53.
As a result of the decline, the market’s Year-to-Date, YTD return slipped to 57.32 per cent.
Market sentiment remained weak, with market breadth closing in the negative after 40 stocks recorded losses, while only 13 eq...