The Nigerian equities market recorded its first loss of the week, as the benchmark index declined by 0.97% to close at 27,319.64 basis points on Wednesday.
At the close of trading activities on Wednesday, the Market Capitalization fell from N13,421 trillion recorded on Tuesday, to close on Wednesday at N13,291 trillion.
Thus, according to Cordros Securities, the Month-to-Date and Year-to-Date losses worsened to 0.75% and 13.08% respectively.
The total volume of trades decreased by 14.94% to 250.45 million units, valued at N3.19 billion and exchanged in 3,219.00 deals.
ACCESS BANK PLC was the most traded stock by volume at 81.85 million units, while LAFARGE AFRICA PLC was the most traded by value at N587.39 billion.
On sectoral performances, the Industrial index was the sole gainer, rising by 0.29%. Conversely, the Consumer Goods Index declined by 2.19%, Insurance by 1.02%, Oil & Gas Index by 0.79% and Banking Index by 0.74%.
Market sentiment, as measured by market breadth, was negative as 18 stocks recorded losses relative to 13 gainers.
Assessing the gainers and decliners lists, GUINNESS NIG PLC led losers’chart by 9.90% and IKEJA HOTEL PLC followed by 9.79%, while U.A.C.N PLC led the gainers’ list with 9.89% gain and UACN PROPERTY DEVELOPMENT COMPANY PLC was right after with 9.76% gain.
Amaka E. Nliam