The key performance indicators of the Nigerian Exchange (NGX) Limited succumbed to profit-taking on Wednesday as they closed lower by 0.36 per cent.
The midweek trading session was overpowered by selling pressure, especially from the financial services landscape, as investors booked profit.
According to data from Customs Street, the insurance counter lost 3.42 per cent, the consumer goods index depreciated by 0.86 per cent, and the banking sector went down by 0.76 per cent, while the energy industry appreciated by 0.18 per cent, with the commodity and the industrial goods sectors closing flat.
At the close of business, the All-Share Index (ASI) gave up 512.60 points to 141,248.76 points from 141,761.36 points and the market capitalisation decreased by N324 billion to N89.373 trillion from N89.697 trillion.
Like the preceding trading session, investor sentiment was bearish after the exchange ended with 17 price gainers and 40 price losers led by the duo of Cornerstone Insurance and RT Briscoe, which slumped by 10.00 per cent each to sell for N6.39 and N3.06 apiece. ABC Transport depreciated by 9.80 per cent to N4.51, NGX Group lost 9.67 per cent to quote at N53.55, and Mutual Benefits declined by 9.58 per cent to N4.06.
On the flip side, Deap Capital gained 4.82 per cent to finish at N1.74, Legend Internet appreciated by 4.63 per cent to N5.65, Honeywell Flour improved by 4.17 per cent to N22.50, Tantalizers chalked up 3.60 per cent to N2.59, and Africa Prudential rose by 3.13 per cent to N16.50.
Yesterday, the market participants transacted 682.9 million equities for N22.2 billion in 28,695 deals compared with the 605.0 million equities valued at N12.9 billion exchanged in 28,845 deals, indicating a reduction in the number of deals by 0.52 per cent, and a growth in the trading volume and value by 12.88 per cent and 72.09 per cent, respectively.
For another trading session, FCMB led the activity chart with the sale of 108.5 million units for N1.2 billion, Sterling Holdings traded 86.0 million units worth N688.1 million, Cutix transacted 45.8 million units valued at N155.7 million, Access Holdings exchanged 39.3 million units worth N1.1 billion, and First Holdco sold 35.8 million units valued at N1.2 billion.