By Munachimso Obienyi
Following sell-offs recorded in the shares of some highly capitalised stocks, investors trading on the floor of the Nigerian Exchange Limited (NGX) lost N18 billion at the close of business on Wednesday.
Specifically, the domestic bourse slipped as the benchmark index closed 0.07 per cent weaker at 47,531.84 points.
Meanwhile, gains recorded in Zenith Bank (+0.26 per cent) were offset by sell offs in GTCO (-0.59 per cent), FBNH (-2.11 per cent), AccessCorp(-0.64 per cent) and UBA (-1.43 per cent) keeping the market in the negative terrain.
As a result, the year-to-date (YTD) return fell to 11.27 per cent, while market capitalisation shed by N18.13 billion to close at N25.89 trillion.
NwafoLive analysis of today’s market activities showed that trade turnover settled higher relative to the previous session, with the value of transactions increasing by 92.22 per cent.
A total of 155.18 million units of shares valued at N3.66bn were exchanged in 3,797 deals.
Mutual Benefits (+0.00 per cent) led the volume chart with 41.92 million units traded while Dangote Sugar (+0.00 per cent) led the value chart in deals worth N2.06 billion.
Investors’ appetite for stocks weakened as 17 stocks depreciated in value while 9 stocks appreciated in value.
Honeywell Flour (-9.77 per cent) led sixteen (16) others on the laggard’s table, while Redstarex (+8.49 per cent) topped eight (8) others on the gainer’s log.
