The equities market of the Nigerian Exchange Limited, NGX, saw its second day decline by 0.9% on Wednesday. This performance was primarily driven by losses in MTN NIGERIA COMMUNICATIONS PLC which declined 2.4% and STANBIC IBTC HOLDINGS PLC which fell 10.00%.
The Market Capitalization fell by 193 billion Naira or 0.9% from 20,830 trillion Naira to 20,637 trillion Naira. While the All-Share Index declined 367.97 basis points or 0.9% to close at 39,433.81 basis points from 39,801.78 basis points.
This fall reflects on the general market sentiment even as 16 stocks posted gains, 22 stocks declined while all others remained unchanged. It reflects also on the total volume of trades which decreased by 18.0% to 349.56 million units, valued at N3.50 billion and exchanged in 4,554 deals.
Again today, FBN Holdings Plc was the most traded stock by volume at 71.28 million units, while ZENITH BANK PLC was the most traded by value at N544.35 million.
On the gainers table, LASACO ASSURANCE PLC led with an increase from a selling price of N1.56k to N1.71k, gaining 0.15k or 9.62 percent. LINKAGE ASSURANCE PLC followed with a rise from 0.53k per share to 0.58k per share by 0.05k or 9.43 percent. While CAVERTON OFFSHORE SUPPORT GRP PLC rose 0.16k or 9.09 percent from N1.76k per share to N1.92k per share.
Conversely, STANBIC IBTC HOLDINGS PLC topped the losers declining by N5.00 or 10.00 percent to close at N45.00k per share from a previous selling priceof N50.00k per share. Right after is CWG PLC which declined from N2.29k per share to N2.07k per share loosing 0.22k or 9.61 percent. And UNILEVER NIGERIA PLC fell by N1.10k or 8.21 percent from N13.40k per share to N12.30k per share.
On sectors, performance was broadly negative as most indices which include the Banking Consumer Goods, Oil & Gas and Insurance indices all declined by 1.7%, 0.5%, 0.2%, and 0.1% respectively, save for the Industrial Goods index which grew 0.3%.
Hauwa Abu
