Bearish sentiments were sustained in Wednesday’s trading, thereby extending Tuesday’s losses by 0.23%.
Thus, the All-Share Index and the market capitalization both declined for the second consecutive session to close at 52,186.52 basis points and ₦28.14trn, respectively.
Notably, selloffs in NIGERIAN BREWERIES PLC(-6.1%) and GUARANTY TRUST HOLDING COMPANY PLC(-2.6%) and INTERNATIONAL BREWERIES PLC(-4.39%) undermined the market’s performance.
Analysis of today’s market activities showed a total of 233.15m units of shares valued at ₦3.31bn were exchanged in 3,729 deals.
NIGERIAN BREWERIES PLC(-6.13%), led the volume and value charts with 30.38m units traded in deals worth ₦1.51bn.
As measured by market breadth, market sentiment was negative as 22 stocks lost relative to 13 gainers.
NIGERIAN AVIATION HANDLING COMPANY PLC (-10.0%) and FTN COCOA PROCESSORS PLC (-8.6%) topped the losers’ list. While MULTIVERSE MINING AND EXPLORATION PLC (+9.9%) and CWG PLC (+9.9%) recorded the most significant gains of the day.
Analysing by sectors, the Consumer Goods (-1.0%), Oil & Gas (-1.0%), Insurance (-0.6%), and Banking (-0.6%) indices declined, while the Industrial Goods index closed flat.
Hauwa Abu
