Equities benchmark index drops in midweek trade

Chiamaka Okechukwu

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The Nigerian Exchange Group Limited, NGX closed midweek trade on negative sentiment as the benchmark index declined by 0.03 percent.
The All-Share Index of listed equities on Wednesday stood at 23.5 basis points, representing a 0.03 percent drop to close at 68,335.72 compared to 68,359.22 of the previous day.
This 0.03 percent resulted to halt in the bullish sentiment that has persisted in the stock since last week.
Similarly, the NGX market capitalisation depreciated by more than N12 billion to close at N37.400 trillion lower than the N37.413 trillion recorded on Tuesday.
The activity level for Wednesday trading  session also reflected a drop in value equities at N5.39 billion and the volume of trade closed with 676.74 million unit of shares which exchanged hands in 8,201
Profit-taking activities in the shares of OANDO, COURTVILLE, JAPAUL Gold, ACCESSCORP and UCAP  accounted for
the highest trade in terms of volume and value.
The day’s transactions ended with 27 gainers relative to 29 losers.
Sunu Assurance Plc led the gainers table with a 10 percent gain on its share price to close at N0.88k, followed by BERGER with a 9.91 percent profit on its share price to close at N12.15k; then CHAMS recorded a 9.77 percent gain on its share price to close at N1.46k.
TRANSCOHOT on the other hand led the losers list with a 10 percent loss on its share price to close at N45.90k. IKEJA  Hotel followed with a 9.93 percent drop on its share to close at N2.72k while CHIPLC shares dropped by 7.41 percent to close at N1.00.