The equities market erased yesterday’s gains as the All-Share Index declined 47bps to close at 25,215.04 points.
Consequently, investors lost N62.6bn as market capitalization settled at N13.1trillion.
A turnover of 266.64 million shares valued at N3.18 billion in 3,978 deals was recorded in today’s trading. GUARANTY was the most traded stock by volume and value at 69.4 million units, value at N1.67 billion.
Performance across sectors under coverage was bearish as 3 indices declined relative to 2 gainers. The Industrial (-2.54%) index lost the most, following profit-taking in BUACEMENT (-3.94%). Likewise, sell pressures in GUINNESS (-2.78%) and ZENITH BANK (-1.87%) dragged the Consumer Goods (-0.27%) and Banking (-0.14%) indices lower.
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On the flip side, price appreciation in MBENEFIT (+9.09%) and OANDO (+1.82%) buoyed gains in the Insurance (+1.44%) and Oil & Gas (0.20%) indices respectively.
Investor sentiments as measured by market breadth index were slightly negative with 19 losers against 18 gainers. BERGER (+10.00%) led the gainer’s chart while CILEASING (-9.43%) was the top loser.
Top gainers
BERGER up 10.00% to close at N7.7, NEIMETH up 9.86% to close at N2.34, UPDCREIT up 8.57% to close at N3.8, OKOMUOIL up 4.69% to close at N67, GUARANTY up 0.62% to close at N24.2.
Top Losers
CILEASING down 9.43% to close at N4.8, UACN down 9.09% to close at N7.5, BUACEMENT down 3.94% to close at N41.5, GUINNESS down 2.78% to close at N17.5, ZENITH BANK down 1.78% to close at N16.6.
Outlook.
Profit-taking increased on Wednesday across most sectors in the Nigerian bourse, Nairametrics envisages cautious buying, as market liquidity remained very low.
