The local bourse extended its decline as the All-Share Index (ASI) fell by 0.07 percent to 106,090.38 basis points on Wednesday.
This downturn resulted in a corresponding 0.07 percent decrease in the market capitalization of listed equities, reducing it to N66.44 trillion and wiping out N48 billion from investors’ portfolios.
Sequentially, the Month-to-Date and Year-to-Date returns moderated to -1.6 percent and +3.1 percent, respectively.
Sectoral performance was predominantly negative, with the Insurance, Consumer Goods, and Oil & Gas sectors posting losses of 0.22 percent, 0.23 percent, and 0.56 percent, respectively.
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However, the Banking sector gained 0.25 percent, while the Industrial Goods and Commodity Goods sectors remained unchanged.
Market breadth reflected overall weakness, as 19 stocks advanced while 32 declined.
Leading the gainers were Tantalizer, Secure Electronic Technology, Caverton Offshore Support Group, FTN Cocoa Processor, and Jaiz Bank, while Conoil, Berger Paints, International Energy Insurance, Multiverse, and Regal Insurance topped the losers’ chart.
Despite the bearish sentiment, trading activity surged, with trading volume and value increasing by 361.77 percent and 29.57 percent, respectively, while the number of deals declined by 7.15 percent.
In total, 1,498.85 million shares valued at N10.26 billion were exchanged across 11,748 transactions.
Sovereign Insurance was the most traded stock by volume at 989.73 million units, while MTN Nigeria Communications was the most traded stock by value at N2.69 billion.
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