The Nigerian equities market on Wednesday closed in the red as losses in Aradel Holdings Plc and 45 others dragged the overall capitalisation lower by N693 billion.
The Nigerian Exchange Limited All Share Index (NGX ASI) lost by 1,092.22 basis points or 0.70 per cent to close at 154,260.98 basis points. Also, market capitalisation shed N693 billion to close at N 97.914 trillion.
Investor sentiment, as measured by market breadth closed negative, as 20 stocks advanced, while 46 declined. Deap Capital Management & Trust recorded the highest price gain of 9.70 per cent to close at N1.81, per share. ASO Savings & Loans followed with a gain of 8.86 per cent to close at 86 kobo, while McNichols went up by 6.67 per cent to close at N3.20, per share.
Caverton Offshore Support Group rose by 6.14 per cent to close at N6.40, while Okomu Oil up by 5.90 per cent to close at N1, 080.00, per share.
On the other hand, Beta Glass and John Holts led the losers’ chart by 10.00 per cent each to close at N437.40 and N5.40 respectively, while eTranzact International followed with a decline of 9.67 per cent to close at N13.55, per share.
Champion Breweries depreciated by 8.81 per cent to close at N14.50, while Ikeja Hotels declined by 8.68 per cent to close at N17.35, per share.
Also, the total volume traded decreased by 15.52 per cent to 452.888 million units, valued at N14.839 billion, and exchanged in 27,654 deals. Transactions in the shares of Tantalizer topped the activity chart with 56.728 million shares valued at N131.310 million. Sovereign Trust Insurance followed with 46.088 million shares worth N217.595 million, while Access Holdings traded 38.635 million shares valued at N896.854 million
Guaranty Trust Holding Company (GTCO) traded 33.967 million shares valued at N3.080 billion, while Zenith Bank sold 17.016 million shares worth N1.085 billion.
On market outlook, Afrinvest Limited said, “we anticipate a mild bearish performance as liquidity remains tight following the bond auction settlement, alongside profit-taking and the redirection of unallotted funds to the secondary T-bills market.”
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