Losses in 63 equities led to a halt in the gaining stance in Nigeria’s local bourse as midweek transactions ended with a decrease in key market indices.
The Nigeria Exchange Group Limited, NGX recorded a 1,622.36 basis points decline in its All-Share Index, ASI of listed equities representing a 2.5% drop to close at 64,046.93 points lower than Tuesday’s 1,669.29 points.
The bearish sentiment came after the stock market witnessed a positive trend for two days this week halting the bull’s reign.
Consequently, the NGX market capitalisation depreciated by N883.3 billion to close at N34.874 trillion in Wednesday’s session compared to the N35.757 trillion of the previous day.
At the end of the day’s business, the Exchange recorded 63 losses on its losers’ list relative to 12 gainers’.
NEIMETH share price dropped by 9.66% to close at N2.15k. Dangote Cement followed with a 9.62% loss on its share price to close at N326.00k while Unity Bank had a 9.52% to close at N1.71k.
On the gainers’ chart, COURTVILLE and DEAPCAP had 10% profit on their respective share prices to close at N0.88k and N0.33k.
GOLDBREW followed with a 9.88% gain on its share price to close at N2.67k; then TIP had a 9.80% profit to close at N0.56k.
The market sentiment when measured by market breadth saw 1,163.2 million units exchanged hands in 13,878 deals
Dominica Nwabufo
