Another spate of downturn in activities in the capital market that resumed Tuesday saw investors losing N279 billion in their investment.

The development confirms the belief that the much needed recovery from the period of bearish run would not be magical, as some operators had opined that there would be moments of up and down until the market stabilises.

Consequently, equity measuring indicator, the market capitalisation of listed equities, fell to N7.821 trillion from the previous N8.100 trillion, representing 3.4 per cent decrease.

It had closed trading on Tuesday at N8.356 trillion from Monday's N8.390 trillion.

Also, the all share index nose-dived by 1,265.39 basis points to close at 35,438.59 points from 36,703.98 points. It has closed transaction on Tuesday at 37,865.16 point from Monday's 38,018.44 points basis.

The rise in the activities of the bears could be attributable to loses recorded in 73 companies as against only five that appreciated in price. Chevron Nigeria Plc recorded the highest loses, dropping by N12.68 to close at N240.97 per share. Guinness followed, shedding N5.17 to close at N98.38 per share. Flourmill fell by N2.46 to close at N46.95, Nigerian Breweries lost N2.05 to close at N39.11 per share, while Benue Cement Company (BCC) that came last on the top five losers' table depreciated by N1.43 to close at N26.46 per share.

On the other hand, BOCGas led on the price gainers' table, appreciating by N0.89 to close at N18.79, followed by WAPIC Insurance with gain of N0.10 to close at N4.40, and FTN CoCoa that appreciated N0.08 top close at N1.88. IBTC/Satnbic Bank and Bagco closed the list of top five gainers, adding N0.02 and N0.01 to close at N10.00 and N3.83 per hare in that order.

The banking sub-sector boosted by activities in the shares of First City Monument Bank (FCMB) and Spring Bank led on the sectoral chart, netting a total of 175.2 million shares valued at N1.44 billion exchanged by investors' in 4,683 deals. The insurance sub-sector led by activities in the shares of Investment and Allied Assurance and Lasaco insurance followed, accounting for 69.5 million shares valued at N78.6 million done in 1,115 deals.

At the end of the day's transactions, investors bought 322.2 million shares worth N2.1 billion exchanged in 8,262 deals.