Lagos: The Nigerian equities market extended its bearish performance on Wednesday, as investors’ wealth declined by N107 billion.
Selloffs in Presco, UAC of Nigeria, Morison, LivingTrust Mortgage Bank, SCOA, and 35 other equities pushed the market into negative territory.
Market capitalisation dropped by 0.09 per cent, or N107 billion, from N125.857 trillion to N125.750 trillion.
The All-Share Index also fell to 195,898.54 from 196,066.11, shedding 167.57 points or 0.09 per cent.
Year-to-Date (YTD) return slipped to 25.89 per cent, with market breadth negative at 40 losers and 29 gainers.
Presco led the losers’ chart by 10 per cent, ending the session at N2,083.90, UAC of Nigeria trailed by 9.97 per cent, closing at N104.25, while Morison shed by 9.94 per cent, settling at N10.87 per share.
Also, Livingtrust Mortgage Bank declined by 9.91 per cent, finishing at N4.82, and SCOA dipped by 9.86 per cent, closing at N25.15 per share.
Conversely, NGX Group led the gainers’ chart by 10 per cent, finishing at N186.45; Premier Paint followed with 9.92 per cent, settling at N19.40; and Omatek Ventures gained 8.95 per cent, closing at N2.80 per share.
Also, Prestige Assurance added by 8.39 per cent, ending the session at N1.68, while Haldane McCall increased by 6.67 per cent, settling at N4 per share.
Market activity declined, with total volume traded down 10.12 per cent to 671.27 million, valued at N26.13 billion across 58,792 deals.
Wema Bank recorded the highest volume and value, with 106.36 million traded shares and N2.75 billion, accounting for 15.84 per cent and 10.54 per cent, respectively, of the day’s total volume and value.
