The Nigerian Exchange Limited closed Wednesday’s trading session on a negative note as sustained sell pressure pushed the All-Share Index down by 0.33 per cent.
At the close of trading, the ASI declined by 549.44 points to settle lower, while market capitalisation stood at N105.7tn, reflecting cautious investor sentiment despite improved market activity.
A total of 623,119,412 shares valued at N16,507,428,923.50 were exchanged in 42,119 deals during the session. Compared with the previous trading day, trading volume rose by 29 per cent, although turnover fell by 5 per cent, while the number of deals improved by two per cent.
Market breadth closed negative, with 38 equities recording price depreciation against 32 gainers out of the 130 listed equities that participated in trading.
Union Homes Real Estate Investment Trust led the gainers’ chart, appreciating by 9.97 per cent to close at N94.85 per share. It was followed by Deap Capital Management and Trust, which also gained 9.97 per cent. Tantalizers rose by 9.92 per cent, while Skyway Aviation Handling Company advanced by 9.91 per cent.
On the losing side, RT Briscoe topped the laggards after shedding 9.97 per cent to close at N6.50 per share. May and Baker Nigeria declined by 9.96 per cent, and Ikeja Hotel dropped by 9.92 per cent, while LivingTrust Mortgage Bank depreciated by 9.90 per cent.
In terms of activity, Neimeth International Pharmaceuticals recorded the highest volume of shares traded at 58.1m units, followed by Chams with 39.5m shares, Access Holdings with 33.4m shares and Zenith Bank with 32.4m shares.
The PUNCH reported that the Nigerian Exchange recorded a modest increase in market capitalisation on Tuesday, with total market value rising by N125.7 bn to N106.1 tn compared with Monday’s close of N105.96 tn. The All-Share Index also advanced by 196.26 points to 165,713.82, reflecting a slight positive sentiment in the equities market despite a slowdown in trading activity.
