In the same vein, the market capitalization depreciated by 0.44% or 288 billion Naira to close at 65,790 trillion Naira from yesterday’s close of 66,078 trillion Naira.

As a result, the Month-to-Date and Year-to-Date returns settled at -2.7% and +1.9%, respectively.

Analysis according to Cordros Research attributed the day’s losses to “profit-taking activities in TRANSNATIONAL CORPORATION PLC (-7.84%), ARADEL HOLDINGS PLC (-2.43%) and UNITED BANK FOR AFRICA PLC (-3.10%).”

The total volume of trades increased significantly by 297.5% to 1.37 billion units, valued at N12.37 billion, and exchanged in 12,012 deals.

SOVEREIGN TRUST INSURANCE PLC was the most traded stock by volume at 1.01 billion units, while TRANSCORP POWER PLC was the most traded stock by value at N3.42 billion.

As measured by market breadth, market sentiment was negative as 13 stocks declined in comparison to 37 gainers.

LIVESTOCK FEEDS PLC. (-10.00%), E-TRANZACT INTERNATIONAL PLC (-9.40%) and CORONATION INSURANCE PLC (-9.27%) recorded the most significant loss of the day, while JULIUS BERGER NIG. PLC. (+8.47%), OMATEK VENTURES PLC (+6.15%) and UPDC PLC (+2.69%) topped the gainers’ list.

Sectoral performance was negative, as the Insurance (-1.8%), Banking (-1.4%), Oil & Gas (-1.3%), and Consumer Goods (-0.1%) indices declined. The Industrial Goods index remained unchanged.