The Nigerian equities market closed lower for the third straight session on Wednesday as the benchmark index shed 0.06 per cent to close at 51,556.54 basis points.
Equities investors, therefore, lose N16.15 billion as the market capitalization also closed in red to settle at N27.79 trillion at the end of the day’s activities.
Consequently, the Month-to-Date loss of the All Share Index (ASI) was unchanged at -0.5 per cent, while the Year-to-Date gain moderated to +20.7 per cent.
As measured by market breadth, market sentiment was negative as 16 tickers lost relative to 15 gainers. On the performance chart, Champion Breweries and NEM Insurance CHAMPION (-10.0%) and NEM (-10.0%) topped the losers’ list, having depreciated ten per cent apiece; while Academy Press and CHI Plc recorded the most significant gains of the day as their respective share values appreciated by 9.8 per cent and 8.7 per cent, respectively.
Performance across our sectoral coverage was broadly negative, as the Insurance, Banking, and Oil & Gas indices declined by 1.4 per cent, 0.6 per cent and 0.2 per cent, respectively, while the Industrial Goods and Consumer Goods indices closed flat.
Analysis of market activities on Wednesday showed that trade turnover settled lower relative to the previous session, with the value of transactions declining by 44.02 per cent.
A total of 135.26 million units of shares valued at N1.44 billion were exchanged in 3,745 deals.
Transnational Corporation was the most traded stock by volume at 15.55 million units, while Guaranty Trust Holding Company was the most traded stock by value at N267.09 million.
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Negative sentiment persists at NGX as equities investors lose N16.15bn
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