The local stock market halts its two days positive outing for the week to close on a negative note, leaving the benchmark index 0.08 per cent lower.
Specifically, the All Share Index (ASI) of the Nigerian Exchange Limited (NGX) settled at 47,207.27 basis points at the end of trading activities on Wednesday, bringing both the month-to-date and year-to-date performance of the ASI to stand at 1.25 per cent and 10.51 per cent respectively.
Owing to the bearish trade, Investors lost N22 billion in the session as the market capitalisation settled at N25.442 trillion, a 0.0.9 per cent loss from the N25.464 trillion it stood at the end of the previous trading session.
Bulls’ camp however maintained grip to close the market breadth with 26 counters in the gainers’ chart pitted against 16 counters in the losers’ chart.
On the performance chart, E-Tranzact gained ten per cent to become the best performing stock in the session, flanked by RTBriscoe, Niger Insurance, May&Baker and Wema Bank.
From the rear of the chart, African Prudential shed the most weight to lead the laggards’ chart, followed by Dangote Sugar, Chams, Mutual Benefits and EcoBank Transnational Incorporated to complete the top five losers on the chart.
All sectoral indices closed in the same direction with the ASI, save for NGX Insurance and NGX Oil&Gas that gained 0.91 per cent and 0.03 per cent respectively, while NGX Growth and NGX ASEM closed flat.
Activities however waned as volume and value shed weight in the session with daily traded volume standing at 230.646 million units, representing a 45.32 per cent decrease from a volume of 421.821 million units traded in the previous session.
The value of traded stocks dipped by 32.24 per cent in the session to stand at N3.493 billion as against a value of N5.155 billion recorded in the previous trading session.
Transnational Corporation dominated the volume charts as the top traded stock by volume for the trading session, followed by Fidelity Bank, United Capital, Regal Insurance and FBN Holdings to complete the list of the five most traded stocks by volume.
With regards to the value of traded stocks, Seplat took the lead of the top five performers as well, flanked by Airtel Africa, Zenith Bank, Guaranty Trust Holding Company and Total Energies.
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