The Nigerian Alternate witnessed a continued downturn on Wednesday, as bearish sentiments dominated buying and selling for the third consecutive day.
The All Share Index declined by 0.20 per cent, closing at 97,199.60 factors, down from the day gone by’s 97,390.01 factors. This brings the year-to-date acquire to 31.37 per cent, the month-to-date efficiency to a detrimental 0.54 per cent, and the week-to-date to a detrimental 1.42 per cent.
The market capitalization fell to N55.188tn, reflecting a lack of N108bn in comparison with the earlier buying and selling session.
A complete of 315.3m shares had been exchanged in 8,365 offers, amounting to a turnover of N5.48bn. This represents a decline in buying and selling exercise, with a 47 per cent drop in quantity, a 61 per cent discount in turnover, and a 26 per cent lower within the variety of offers in comparison with the earlier buying and selling day.
Guinea Insurance coverage led the gainers with a ten per cent enhance, closing at N0.44 per share. It was carefully adopted by SFS Actual Property Funding Belief with a 9.96 per cent acquire, Honeywell Flour Mill, and RT Briscoe, each recording a 9.87 per cent enhance.
On the flip aspect, Oando and Cutix led the losers’ chart, with their share costs dropping by 9.95 per cent and 9.92 per cent, respectively. Oando closed at N36.20 per share, whereas Cutix ended the day at N5.36.
Different vital losers included Academy Press (-8.70 per cent), Japaul Gold and Ventures (-7.89 per cent), and Pink Star Categorical (-6.98 per cent).
The market breadth closed detrimental, with 25 equities declining in opposition to 22 that posted beneficial properties.
In whole, 118 equities participated in buying and selling, additional reflecting the prevailing bearish sentiment.
Veritas Kapital Assurance recorded the best quantity of traded shares, with 38.4m models altering palms. This was adopted by Warranty Belief Holding Firm (36.3m), Common Insurance coverage (23.2m), and Oando (22.1m).
On Tuesday, the Nigerian fairness market continued its bearish development influenced by the declining share costs of corporations of Oando, Livestock Feeds, Cornerstone Insurance coverage Firm, and Linkage Assurance.
This downturn led to a lower in market capitalization and the All-Share Index by 0.5 per cent, closing at N55.31tn and 97,390.01 factors, respectively.
