A 0.73 per cent decline was recorded by the Nigerian Exchange (NGX) Limited on Wednesday amid continued selling pressure on stocks across sectors.
Data showed that apart from the energy index, which grew by 0.11 per cent during the trading day, every other sector closed lower, with the insurance space depreciating by 7.20 per cent.
Further, the consumer goods industry went down by 1.90 per cent, the banking space weakened by 1.22 per cent, and the industrial goods counter shrank by 0.01 per cent.
Consequently, the All-Share Index (ASI) of Customs Street contracted by 1,047.17 points to 141,566.30 points from 142,613.47 points and the market capitalisation decreased by N662 billion to N89.565 trillion from N90.227 trillion.
Guinness Nigeria lost 9.98 per cent to finish at N140.20, Conoil also shed 9.98 per cent to settle at N211.10, Consolidated Hallmark plunged by 9.94 per cent to N4.35, Royal Exchange moderated by 9.92 per cent to N2.27, and Ellah Lakes crumbled by 9.81 per cent to N14.90.
Conversely, Austin Laz gained 10.00 per cent to quote at N2.64, Champion Breweries increased by 9.97 per cent to N19.74, NCR Nigeria soared by 9.77 per cent to N9.55, Multiverse rose by 8.82 per cent to N11.10, and Nigerian Enamelware chalked up 8.64 per cent to close at N39.00.
At midweek, investors traded 721.8 million equities valued at N12.9 billion in 28,745 deals compared with the 1.0 billion equities worth N17.7 billion transacted in 34,352 deals a day earlier, representing a shortfall in the trading volume, value, and number of deals by 27.82 per cent, 27.12 per cent, and 16.32 per cent, respectively.
Champion Breweries led the activity chart with a turnover of 54.5 million units valued at N988.3 million, Universal Insurance traded 47.8 million units for N57.3 million, Royal Exchange transacted 46.2 million units worth N105.2 million, Regency Alliance exchanged 40.8 million units valued at N55.5 million, and AIICO Insurance sold 39.3 million units for N156.4 million.