Stock market dipped second day running(Tuesday) by 0.69% as All Share Index continues the downtrend to close at 23,918.11 points. The market capitalisation, representing the net worth of investment traded on the Exchange depleted by N40.93 billion to close on a negative note at N5.86 trillion.

The equity trading closed unimpressive with 40 loser positions to 21 gainer positions as depletion of market value cut across the board. Also, major sectors recorded continuous price dropping as a result of weak willingness towards share bargain.

The dividend and bonus recorded on Monday by 7up Plc ignited the strong investors bargain towards the stock. The stock topped the gainers chat with 4.99%.

The NSE 30 which basically measures the performance of blue chips in the market dipped by 0.48%, NSE Banking recorded the highest dropped by 1.49% and NSE Insurance dropped by 0.24% while NSE Oil & Gas maintained two previous positive positions to gain by +0.54, also NSE Food & Beverages closed positive by 0.26% in 2,966 deals.

The Banking sub sector led other sub sectors in terms of volume, exchanging 105.643 million shares valued at N604.508 million. The volume recorded in the sector was driven by transaction in the shares of First Inland Bank Plc, First Bank Plc, Guaranty Trust Bank Plc and UBA Plc

The total volume of 61.30 million units valued at N363.81 million traded in the shares of the four stocks accounted for 87.95% of the entire market volume and their value represented 97.80% of the market's value.

The Insurance sub sector followed on sectorial activity, recording 23.116 million units of shares worth N18.729 million exchaged in 230 deals.

The number of gainers at the close of trading session closed higher twenty four (24) compared with seventeen (17) gainers recorded on Monday; while decliners closed higher at forty (40) compared with thirty four (34) losers recorded the previous trading day.

Transaction volume on the Exchange moved down by 19.03% to close at 170.37 million units exchanged in 5,520 deals as against volume drop by 48.01% recorded on Monday to close at 210.42 million units exchanged in 5,782 deals.

Also, market value declined by 3.20% to close at N1.25 billion as against decline of 60.73% recorded on Monday to close at N1.29 billion.

The Agriculture sector closed on a bearish note with one gainer to one loser compared with two gainers to one loser recorded on Monday. The share price of FTN Cocoa Processors Plc moved up by 3.95% while Livestock Feeds Plc lost by 3.70%.

The Breweries sector recorded one loser and three unchanged prices compared with one gainer to one loser recorded on previous trading day. The share price of Nigerian Breweries Plc moved southwards with 0.86% loss recorded while the share price of other stocks in the sector remained unchanged.

The building materials sector, today, closed with two gainers to two losers compared to one gainer to three losers recorded on previous trading day.

The share prices of Benue Cement and Ashaka Cement Plc both moved up by +2.12% and +0.18% respectively. The share price of Cement Company of Northern Nigeria Plc topped the losers' chart with -2.00% loss and followed by Lafarge WAPCO Plc with -1.42% loss.

The conglomerates sector recorded two losers and three unchanged prices compared with one gainer and five unchanged prices recorded on Monday.