The Nigerian stock market on Tuesday closed on a bearish note, occasioned by profit taking in MTN and 36 other stocks.
The All Share Index declined by 1.86% to close at 50,442.37 points from the previous close of 51,400.53 points.
The Market Capitalisation declined by 1.86% to close at N27.202 trillion from the previous close of N27.718 trillion, thereby shedding N516 billion.
An aggregate of 156.17 million units of shares were traded in 4,618 deals, valued at N2.94 billion.
The market breadth closed negative as only 3 stocks gained against 37 stocks that declined in their share prices.
Livestock Feeds, First Bank of Nigeria Holdings (FBNH) and Sterling Bank grew their share prices by 1.63%, 1.36% and 1.32% respectively.
Trans Nationwide Express led other price decliners as it shed 10% of its share price to close at N0.63 from the previous close of N0.70.
International Breweries and MTN among other price decliners also shed their share prices by 9.91% and 9.62% respectively.
Flour Mills traded about 19.32 million units of its shares in 85 deals, valued at about N618 million.
Transcorp traded about 15.4 million units of its shares in 109 deals, valued at about N16.35 million.
GTCO traded about 12.69 million units of its shares in 401 deals, valued at N259.67 million.