The Nigerian equities market reversed the gains recorded since the beginning of the week with a ₦197 billion loss by investors at the close of trading on Wednesday
This followed the dip in the share prices of stocks like MULTIVERSE, MAY & BAKER, and PRESTIGE INSURANCE amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization fell to ₦63.1 trillion from ₦63.3 trillion posted by the bourse on Tuesday.
The benchmark All-Share Index (ASI) decreased to 102,836.35 points from 103,157.20 points recorded the previous day.
The market breadth was flat as 24 stocks advanced and 24 others declined, while 72 equities remained unchanged in 10, 591 deals.
SCOA, CADBURY, and NSL TECH led other gainers with 9.70%, 9.65% and 9.59% growth each in prices to close at N3.28, N25.00 and N0.80 from the previous N2.99, N22.88 and N0.73 per share.
MULTIVERSE, MAY & BAKER, and PRESTIGE INSURANCE led other price decliners with 9.87%, 9.78%, and 7.69% dip in share prices to close at N10.05, N8.30 and N1.32 from the previous N11.15, N9.20 and N1.43 per share.
On the volume index, ACCESS CORP led trading with 91 million shares in 403 deals followed by UBA which traded 27 million shares in 441 deals.
STERLING NIGERIA traded 22 million shares in 262 deals.
On the value index, GEREGU traded stocks worth N5.1 billion in 79 deals followed by ACCESS CORP which traded equities worth N2.2 billion in 403 deals.
ARADEL traded shares valued at N1.2 billion in 262 deals.
By: Babajide Okeowo