The Nigerian stock market experienced a significant downturn on Tuesday, with profit-taking activities leading to a loss of N479 billion in market value. This decline was primarily driven by selling pressure in major banking and consumer goods stocks, resulting in a broad-based decrease across the market. At the end of the trading session, the benchmark All-Share Index recorded a drop of 874.00 points, equivalent to 0.35 percent, closing at 246,686.66 basis points. The overall market capitalisation reflected this downward trend, underscoring the impact of investor sentiment on stock performance.
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