The bears consumed the Nigerian Exchange (NGX) Limited by 0.10 per cent on Wednesday despite a strong investor sentiment supported by a positive market breadth index after the bourse ended with 29 price gainers and 27 price losers.
The loss recorded by Customs Street yesterday came after the commodity index lost 1.34 per cent, the consumer goods sector declined by 0.83 per cent, the energy space weakened by 0.33 per cent, and the banking industry fell by 0.15 per cent.
Business Post reports that they rubbished the 1.14 per cent and 0.21 per cent leap recorded by the respective duo of insurance and industrial goods counters.
As a result, the All-Share Index (ASI) crumbled by 111.37 points to 109,619.10 points from the preceding day’s 109,730.47 points and the market capitalisation decreased by N70 billion to settle at N68,896 trillion compared with the previous day’s N68.966 trillion.
Champion Breweries lost 10.00 per cent to trade at N7.20, Lasaco Assurance also declined by 10.00 per cent to N2.52, McNichols depreciated by 9.45 per cent to N2.30, Multiverse shed 7.22 per cent to N9.00, and Sovereign Trust Insurance dipped by 6.80 per cent to 96 Kobo.
However, RT Briscoe rose by 10,00 per cent to N2.09, Eunisell gained 9,75 per cent to close at N12.95, Livestock Feeds appreciated by 9.61 per cent to N8.90, Linkage Assurance expanded by 9.46 per cent to N1.62, and Meyer chalked up 8.89 per cent to quote at N9.80.
A total of 664.2 million equities worth N13.0 billion exchanged hands in 19,439 deals at midweek versus the 487.1 million equities valued at N13.0 billion traded in 18,587 deals on Tuesday.
This indicated that the trading volume increased by 36.36 per cent, the number of deals soared by 4.58 per cent, and the trading value was flat.
Japaul topped the activity chart after selling 90.0 million shares valued at N186.5 million, Tantalizers traded 82.8 million equities for N231.0 million, Fidelity Bank exchanged 67.7 million stocks worth N1.3 billion, Nigerian Breweries sold 52.2 million shares worth N3.1 billion, and Custodian Investors transacted 36.5 million stocks valued at N719.3 million.