The Nigerian equities market on Wednesday extended its bearish run for the third consecutive session this week, despite the easing concerns around the revised Capital Gains Tax (CGT).
The Nigerian Exchange Limited All Share Index (NGX ASI) shed 340.50 points, or 0.23 per cent to close at144,646.01 basis points. Accordingly, market capitalisation lost N217 billion to close at N92.002 trillion.
Market breadth was decisively negative, as 39 decliners outnumbered 16 advancers. NCR Nigeria recorded the highest price gain of 9.85 per cent to close at N34.00, per share. Caverton Offshore Support Group followed with a gain of 9.71 per cent to close at N5.65, while UACN rose by 8.33 per cent to close at N68.30, per share.
Mutual Benefit Assurance went up by 7.69 per cent to close at N3.64, while Linkage Assurance appreciated by 7.57 per cent to close at N1.99, per share. On the other hand, Universal Insurance led the losers’ chart by 10 per cent, to close at N1.17, per share. ABC Transport followed with a decline of 9.95 per cent to close at N3.44, while LivingTrust Mortgage Bank declined by 9.92 per cent to close at N3.36, per share.
Chellaram depreciated by 9.85 per cent to close at N14.65 and Royal Exchange declined by 9.76 per cent to close at N1.85, per share.
Meanwhile, the total volume traded increased by 134.12 per cent to 892.578 million units, valued at N23.543 billion, and exchanged in 20,225 deals. Transactions in the shares of Access Holdings topped the activity chart with 488.361 million shares valued at N10.570 billion. Tantalizers followed with 70.906 million shares worth N195.278 million, while Japaul Gold & Venture traded 54.048 million shares valued at N117.346 million.
Zenith Bank traded 34.543 million shares valued at N2.072 billion, while Consolidate Hallmark Holdings sold 31.267 million shares worth N125.086 million.