Lagos: The stock market extended its losses on Wednesday, with investors recording a N34 billion decline amid profit-taking in key stocks.
Declines in CHAMS, Halldane McCall, UACN, Sunu Assurances and 20 other stocks pushed the market into negative territory.
Specifically, investors lost N34 billion as the market capitalisation, which opened at N93.658 trillion, recorded a slight change to close at N93.624 trillion.
The All-Share Index (ASI) also declined by 0.05 per cent, or 78.28 per cent, settling at 146,862.01, compared with 146,940.29 previously.
Consequently, the Year-To-Date (YTD) return dropped to 42.69 per cent.
However, the market breadth closed positive with 28 gainers and 24 losers.
Japaul Gold led the gainers’ table by 10 per cent, finishing at N2.53, Prestige Assurance followed by 9.40 per cent, settling at N1.63, and Mecure gained by 7.72 per cent, ending the session at N34.90 per share.
The Initiates Plc rose by 7.30 per cent, closing at N12.50, while Consolidated Hallmark Holdings soared by 6.97 per cent, finishing at N4.30 per share.
Conversely, CHAMS Holding led the losers’ table by 10 per cent, settling at N3.06; Halldane McCall trailed by 8.88 per cent, ending the session at N4, and FG202034S2 dropped by 8.48 per cent, closing at N106.98 per share.
UACN shed by 8.18 per cent, finishing at N80.80, while Sunu Assurances fell by 6.98 per cent, closing at N4 per share.
The market witnessed an overall decline in value and volume, as 747.1 million shares worth N12.4 billion were traded across 19,161 transactions.
This is compared with 1.9 million shares valued at N30.2 billion that were exchanged across 23,038 deals earlier.
Meanwhile, CUTIX recorded the highest volume, with 122.91 million shares traded, while Guaranty Trust Holding Company recorded the highest value, at N2.74 billion.
