The Nigerian equities market on Wednesday extended its decline, shedding N1.672 trillion The All-Share Index declined by 2,579.01 points, representing a loss of 1.05 per cent, to close at 242,223.10 points. Similarly, the overall market capitalisation value shed N1.672 trillion to close at N157.050 trillion. The decline marked a second consecutive bearish session and reduced […]
The Nigerian equities market on Wednesday extended its decline, shedding N1.672 trillion
The All-Share Index declined by 2,579.01 points, representing a loss of 1.05 per cent, to close at 242,223.10 points. Similarly, the overall market capitalisation value shed N1.672 trillion to close at N157.050 trillion.
The decline marked a second consecutive bearish session and reduced the year-to-date (YtD) return to 55.66 per cent. Selling pressure remained broad-based, with heavyweight consumer and industrial names contributing to the weakness.
Market breadth remained decisively negative, with 44 losers against 11 gainers. Gains were selective, led by Champion Breweries with a gain of 9.90 per cent. VFD Group followed with a gain of 9.52 per cent, while UPDC rose by 5.88 per cent. Ikeja Hotel rose by 4.58 per cent, while Cutix rose by 3.06 per cent.
On the losing side, Secure Electronic Technology, BUA Cement, FTN Cocoa Processors, Zichis Agro-Allied Industries, McNichols and Omatek Ventures each declined by 10.00 per cent.
Total traded volume declined by 29.0 per cent to 534.45 million units from 753.17 million units, while transaction value decreased by 19.9 per cent to N22.28 billion from N27.82 billion. Deal counts also fell by 13.2 per cent to 46,943 transactions from 54,051. The broad decline across key activity indicators suggests reduced investor participation and lower market engagement.
Analysts noted that overall, the session was characterised by bearish sentiment and weaker trading activity, as sustained selling pressure pushed the market further into negative territory.
