By TAIYE OLAYEMI

The Nigerian stock market extended its losses on Tuesday, with investors recording a decline of N183 billion in total market value.

Specifically, the Nigerian Exchange Ltd. (NGX) saw its market capitalisation fall to N72.497 trillion from N72.680 trillion recorded on Monday.

The All-Share Index dropped by 348.61 points or 0.30 per cent, closing at 114,910.16 compared to 115,258.77 in the previous session.

The decline followed price depreciation in shares of Transcorp Power, Oando, Ellah Lakes, Omatek, Custodian Investment, and 30 other listed companies.

Market breadth closed negative, with 35 equities declining while 29 posted gains at the end of trading.

Transcorp Power Plc led the losers, dropping 9.98 per cent to close at N295.70 per share.

Oando Plc followed with a 9.97 per cent fall, closing at N58.25, while Ellah Lakes shed 9.87 per cent to finish at N4.29.

Omatek declined by 9.33 per cent, ending at 68k per share, while Custodian Investment Plc dropped 8.63 per cent to settle at N22.75.

On the gainers? side, Cileasing rose by 10 per cent to close at N4.62, with Learn Africa also gaining 10 per cent to reach N4.18.

Mutual Benefits Assurance appreciated 10 per cent to finish at N1.10, while University Press rose 9.82 per cent to end at N5.48.

Deap Capital Management also advanced by 8.64 per cent, ending the day at 88k per share.

Total turnover stood at 787.31 million shares valued at N25.67 billion, traded across 23,170 deals.

This compared with 721.75 million shares worth N22.01 billion exchanged in 22,100 transactions on Monday.

Zenith Bank led the activity chart, trading 96.23 million shares valued at N4.25 billion.

Guaranty Trust Holding Company followed with 83.36 million shares worth N6.24 billion, while United Bank for Africa sold 65.16 million shares for N2.11 billion.

Access Corporation recorded 64.21 million shares valued at N1.30 billion, and Ecobank Transnational Incorporated traded 51.73 million shares worth N1.57 billion. (NAN)

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