Trading activities on the floor of the Nigerian Exchange Group Limited, NGX, closed bearish on Wednesday as equities depreciated by 0.2 percent.
The bearish close at the equities market reflected reaction to the interest rate hike by the Central Bank of Nigeria at the end of its two-day Monetary Policy Committee meeting.
The midweek trade recorded a drop of 157.33 basis points in the All-Share Index of listed equities, representing a 0.2 percent decline to close at 98,128.00 points lower than the 98,285.33 points of the previous day.
Consequently, investors lost N89 billion on market capitalisation at the end of the day to close at N55.508 trillion compared to N55.597 trillion recorded on Tuesday.
The day’s trading session ended with 15 gainers and 23 losers as investors saw 271.70 million unit of shares exchange hands in 7,383 deals.
On price gain, Tantalizer led the chart with an 8.00 percent profit on its share price to close at N0.54k, followed by Wapic with a 7.81 percent gain on its share price to close at N0.69; while Omatek made an 7.69 percent profit on its share price to close at N0.70k.
Conversely, TIP led the losers chart with a 10 percent drop on its share price to close at N1.80k, followed by Multiverse with a 9.82 percent loss on its share price to close at N12.40k; then Cornerst closed at N1.90k after losing 9.52 percent on its share price.
