The equity market experienced a loss of N25 billion on Wednesday due to selloffs in key stocks such as MTN Nigeria, Dangote Sugar, and Guaranty Trust Holding Company (GTCO).
Specifically, the market capitalisation, which began the day at N56.670 trillion, fell by N25 billion, or 0.04%, closing at N56.645 trillion.
The All-Share Index also declined by 0.04%, or 43.3 points, closing at 100,032.32 compared to Tuesday’s 100,075.59.
As a result, the Year-To-Date (YTD) return slipped to 33.78%.
Among the gainers, United Capital led with a 10% increase to close at N36.30. Africa Prudential followed, rising by 9.88% to close at N8.90, and Cutix gained 9.86% to close at N6.13 per share.
Oando rose by 5.63%, closing at N16.90, while Julius Berger advanced by 4.79% to close at N87.50 per share.
Conversely, RTBRISCOE led the decliners with a 5.71% drop to close at 66k. FTN Cocoa Processors trailed with a 4.44% decrease to close at N1.72 per share. Tantalizer declined by 4.26% to close at 45k, Neimeth International Pharmaceuticals shed 3.53% to close at N1.64, and Consolidated Hallmark Plc lost 3.45% to close at N1.40 per share.
An analysis of market activities showed that trade turnover increased compared to the previous session, with the value of transactions rising by 35.71%. A total of 1.10 million shares valued at N10.08 billion were exchanged in 8,720 deals, compared to 368.39 million shares valued at N7.42 billion exchanged in 8,151 deals previously.
Jaiz Bank led in trading volume with 528.49 million shares worth N1.15 billion, followed by Cutix with 194.64 million shares worth N1.19 billion. Zenith led in value, trading 77.75 million shares valued at N3.11 billion. Universal Insurance transacted 36.26 million shares worth N12.35 million, and FCMB sold 33.88 million shares worth N257.09 million.
