The Nigerian equities market continued to experience bearish sentiment as investors lost N930.62 billion at the close of trading on Wednesday.
This followed the dip in the share prices of stocks like UNIVERSAL INSURANCE, DANGOTE CEMENT, and JOHN HOLT amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization fell to ₦62.2 trillion from ₦63.1 trillion recorded by the bourse on Tuesday.
The benchmark All-Share Index (ASI) decreased to 103,622.09 points from 105,367.25points which were recorded the previous day.
The market breadth was negative as 28 stocks advanced and 39 stocks declined, while 54 stocks remained unchanged in 12,098 deals.
NASCON, DANGOTE SUGAR, and SUNU ASSURANCE led other gainers with 10% growth each in prices to close at N38.50, N36.85 and N6.71 from the previous N35.00, N33.50 and N6.10 per share.
UNIVERSAL INSURANCE, DANGOTE CEMENT, and JOHN HOLT led other price decliners with 10%, 10% and 9.99% dip in share prices to close at N0.63, N387.00, and N8.47 from the previous N0.70, N431.00 and N9.41 per share.
On the volume index, UNIVERSAL INSURANCE led trading with 70 million shares in 250 deals followed by AIICO which traded 39 million shares in 396 deals.
ACCESS CORP traded 16 million shares in 399 deals.
On the value index, ARADEL traded stocks worth N666 million in 275 deals followed by ZENITH BANK which traded equities worth N601 million in 954 deals.
NIGERIAN BREWERIES traded shares valued at N518 million in 101 deals.
By: Babajide Okeowo