Lagos (Nigeria): The equities market closed lower on Wednesday, as performance indices dipped by 0.15 per cent, mainly driven by profit taking in medium and large-cap stocks.
Decliners included Deap Capital Management, Legend Internet, RT Briscoe, May and Baker, WAPIC Insurance, alongside 24 other stocks.
Market capitalisation fell by N135 billion, or 0.15 per cent, closing at N89.063 trillion, compared to Tuesday’s N89.198 trillion.
Similarly, the All-Share Index (ASI) lost 213.50 points, or 0.15 per cent, settling at 140,716.10.
The market breadth also closed negative with 29 losers against 23 gainers.
Deap Capital Management dropped 9.42 per cent to N1.73, while Legend Internet fell 9.26 per cent, ending at N4.90 per share.
WAPIC Insurance shed 8.75 per cent to N2.92, while RT Briscoe slipped 8.16 per cent, finishing at N3.60 per share.
May and Baker declined 7.14 per cent, closing at N16.25 per share.
Conversely, Dangote Sugar gained 10 per cent, settling at N59.40, while Mecure Industries appreciated 9.95 per cent, closing at N23.75 per share.
Cornerstone Insurance advanced 8 per cent to N6.48, while Secure Electronic Technology also rose 8 per cent, ending at 81k per share.
UPDC added 5 per cent, closing at N7.35 per share.
Market activity analysis revealed declines in deals, volume and value, as 442.6 million shares worth N16.9 billion exchanged hands in 21,684 transactions.
This compares with 759.1 million shares valued at N25.7 billion traded across 23,657 transactions on Tuesday.
Zenith Bank led the activity chart in volume and value, with 68.9 million shares worth N4.8 billion.
Access Corporation followed with 47.3 million shares valued at N1.2 billion, while FirstHoldCo traded 46.1 million shares worth N1.4 billion.
Fidelity Bank recorded 42.3 million shares valued at N868 million, while Guaranty Trust Holding Company transacted 22.9 million shares worth N2.1 billion.
