The Nigerian Exchange Group Limited (NGX) recorded its third consecutive day of losses as negative sentiments persisted on Wednesday on the floor of the equities market by 0.1 percent.
At the close of trading activities, the All-Share Index declined by 42.61 basis points to 37,804.46 basis points from 37,847.07 basis points, while the Market Capitalization fell by 22 billion Naira from 19,725 trillion Naira to 19,703 trillion Naira.
Wednesday’s fall is largely due to investors sell-off of Tier-1 banking stocks such as the ZENITH BANK PLC which declined by 1.3% and ACCESS BANK PLC stocks, which fell 2.3%.
The total volume of trades decreased to 208.36 million units, valued at N1.60 billion and exchanged in 3,365 deals.
ZENITH BANK PLC was the most traded stock by volume at 33.68 million units and value at N795.03 million.
As measured by market breadth, market sentiment was negative with 23 stocks declining relative to 11 gainers.
FTN COCOA PROCESSORS PLC led the gainers with an opening selling price of 0.30k per share to close at 0.33k per share, appreciating by 0.03k or 10.00 percent followed by IKEJA HOTEL PLC with a rise in selling price from 0.91k per share to N1.00 per share.
CORNERSTONE INSURANCE PLC rose from 0.51k per share to 0.56k per share by 0.05k or 9.80 percent.
On the other hand, ROYAL EXCHANGE PLC led the losers dropping from 0.70k to 0.63k by 0.07k or 10.00 percent.
Next was JAPAUL GOLD & VENTURES PLC which dropped from 0.51k per share to 0.46k per share by 0.05k or 9.80 percent.
UNIVERSITY PRESS PLC fell from N1.68k per share to N1.52k per share by 0.16k or 9.52 percent.
Analyzing by sectors, the Banking index dropped by 0.8%; Insurance index fell by 0.5%, while Oil & Gas index fell by 0.1%.
The Consumer Goods index, being the lone gainer, grew by 0.2% even as the Industrial Goods index closed flat.
