WATCH THE VIDEO HERE
The Nigerian Exchange lost N74bn in market capitalisation at the close of trading on Wednesday as the All-Share Index declined by 0.1 per cent to settle at 105,485.99 points.
The exchange’s overall market capitalisation now stands at N66.1tn.
At the end of the session, a total of 1.29bn shares valued at N12.49bn were exchanged in 10,908 deals. This represented a 269 per cent increase in volume compared to the previous trading day, although turnover declined by 17 per cent, while the number of deals fell by 12 per cent.
A total of 124 stocks were traded, with 31 gainers and 19 losers. Mutual Benefits Assurance Plc led the gainers with a 10 per cent appreciation to close at N0.88 per share, followed by Royal Exchange Plc, which gained 9.88 per cent to close at N0.89. NEM Insurance Company Plc rose by 9.84 per cent to N13.40, while Lasaco Assurance Plc recorded a 9.56 per cent increase to close at N2.75. E-Tranzact International Plc gained 9.52 per cent to close at N5.75, and SUNU Assurances Nigeria Plc appreciated by 7.69 per cent to N6.30. On the losers’ chart, Union Homes Real Estate Investment Trust Plc led with a 9.93 per cent decline to close at N51.25 per share. Associated Bus Company Plc lost 9.8 per cent to close at N1.38, while Universal Insurance Plc fell by 8.33 per cent to N0.55. Daar Communications Plc shed 6.45 per cent to close at N0.58, while Champion Breweries Plc dropped by five per cent to N3.80. Afriland Properties Plc also recorded a 3.97 per cent decline to close at N14.50.
Sovereign Trust Insurance Plc recorded the highest volume of traded shares at 607 million units, followed by Cutix Plc with 358 million, Fidelity Bank Plc with 61.9 million, and Access Holdings Plc with 43.8 million. Sectoral performance was mixed, with the Insurance Index rising by 2.64 per cent and the Consumer Goods Index up by 0.35 per cent. However, the Top 30 Index dipped by 0.15 per cent, the Banking Index gained 0.13 per cent, while the Oil & Gas Index inched up by 0.03 per cent.
The PUNCH reported that the Nigerian Exchange extended its bullish run on Tuesday, gaining N26bn as investors reacted positively to market movements.