Investors suffered heavy losses at the Nigerian Exchange on Tuesday. Market capitalization plunged N904 billion in a single session.
The bourse shed 0.58 percent as it closed at N155.152 trillion. This came after four days of consecutive gains.
All-Share Index dropped 1,408.82 points to close at 241,750.15. Monday's close had been 243,158.97.
Year-to-date returns moderated to 55.35 percent despite the setback. Investor mood, however, remained broadly positive.
Gainers outnumbered losers on the session. The market recorded 46 gainers against 26 losers.
Profit-taking hammered shares of major blue-chip firms. Guinness Nigeria, MTN Nigeria, Wema Bank, AIICO Insurance, and Union Dicon Salt all came under pressure.
Guinness led the losers' log, shedding 10 percent. It closed at N447.30 per share.
Union Dicon Salt, AIICO Insurance, Wema Bank, and MTN Nigeria also declined. Specific figures weren't disclosed for each stock.
Vitafoam Nigeria led the gainers with a 10 percent jump. It closed at N170.50.
Three other stocks matched Vitafoam's performance. Zichis Agro Allied Industries settled at N25.08 while RT Briscoe ended at N12.87.
McNichols also appreciated 10 percent to N7.92 per share. Chemical and Allied Products followed, gaining 9.99 percent to N175.65.
Trading activity weakened noticeably on the day. Volume dropped 9.85 percent from the previous session.
A total of 1.27 billion shares changed hands. Their combined value was N75.23 billion.
Traders executed 102,665 deals during the session. Activity spanned multiple market segments.
FCMB Group led volume trading with 160.59 million shares. This represented 12.66 percent of total turnover.
Guaranty Trust Holding Company topped the value chart. Its trades worth N13.09 billion accounted for 17.40 percent of daily turnover.
