Investors on the Nigerian Stock Exchange lost N472bn in seven days over persistent sell-off pressure and profit taking in the shares of large companies.
Consequently Market Capitalisation fell to N21.715trn by the end of trade on Tuesday, while All Share Index dropped by 0.08 per cent to 41,523.50 points. The fall on Tuesday resulted in N29bn loss.
On Monday, Market Capitalisation lost N75bn to settle at N21.744trn, which is against the N21.819trn recorded by close of Friday trade.
This amounts to N108bn loss for investors in the first two trading days of the week.
Activities on the NSE revealed that the decline on Monday was triggered by profit-taking in Guaranty Trust Bank which decreased the share price by 8.8 per cent, PZ by 9.7 per cent, and CHAMPION by 9.8 per cent.
For Tuesday, Sell pressures in Zenith Bank dragged its shares down by 0.8 per cent; GTB 0.5 per cent; and International Brewery by 2.6 per cent.
Also, share prices of Northern Nigeria Flour Mills Plc fell by 9.94 per cent, NEM Insurance PLC 9.20 per cent, Niger Insurance PLC 9.09 per cent and Japaul Gold 8.86 per cent were the worst performers.
Activity level was mixed as volume traded fell 10.1 per cent to 305.9 million units, while value traded rose 49.7 per cent to N4bn.
The most traded stocks by volume on Tuesday were First Bank Holding with 47.8 million units, Guinness Plc 37.2 million units and R.T.Briscoe Nigeria Plc 0 26.8 million units.
Last week, Market Capitalisation was down by N368bn between Monday February 1, and Friday February 5, to N21.819trn. This is from the N22.187trn recorded by the end of trade in January.