The Nigerian stock market continued its bearish streak on Tuesday amid the diplomatic row between Nigeria and the United States of America.

On Tuesday, the Nigerian Exchange Market shed N612 billion after losing N245.88 billion on Monday.

The decline followed sustained selloffs in National Salt Company, Skyway Aviation Handling Company, Oando, UPDC, Learn Africa, and 36 other declining stocks.

The market capitalisation opened at N97.582 trillion but fell by N612 billion, closing at N96.970 trillion.

Similarly, the All-Share Index dropped by 1,109.50 points, or 0.72 per cent, ending at 152,629.61 points from 153,739.11 on Monday.

Market breadth was negative, with 41 losers and 17 gainers recorded across the trading floor.

Accordingly, National Salt Company and Skyway Aviation Handling Company topped the losers’ chart, followed by Oando.

Meanwhile, on the flip side, Eunisell Interlinked led gainers, rising by 10 per cent to close at N64.90. Sunu Assurances followed with a 9.98 per cent rise to N4.96.

Further analysis showed that the market activity improved in volume but declined in value and number of deals compared with previous trading.

Investors exchanged 683.9 million shares worth N20.4 billion in 33,288 transactions at the close of trading, with Aso Savings and Loans leading in volume with 111.9 million shares valued at N115.2 million.

Recall that US president Trump had threatened military action if the Nigerian government failed to tackle alleged killings of Christians.