The Nigerian Exchange (NGX) Limited spent another day in the territory of the bears on Wednesday, the last trading session of April 2025 after it closed lower by 0.12 per cent due to profit-taking.
Data showed that Customs Street did not survive the onslaught of the bears because of the selling pressure on two of the six major sectors of the market.
Business Post reports that the consumer goods index was down by 1.98 per cent and the banking space went down by 1.46 per cent at the close of trades.
However, the insurance sector gained 0.87 per cent, and the energy industry grew by 0.04 per cent, while the industrial goods and commodity sectors closed flat.
When the bourse ended for the session, the All-Share Index (ASI) declined by 130.33 points to 105,800.85 points from 105,931.18 points and the market capitalisation dwindled by N81 billion to N66.496 trillion from N66.577 trillion.
Ecobank topped the losers’ table after it lost 10.00 per cent to settle at N28.80, International Breweries also fell by 10.00 per cent to trade at N7.38, Ikeja Hotel weakened by 9.89 per cent to N12.30, Cadbury Nigeria depreciated by 9.80 per cent to N29.00, and Austin Laz slumped by 9.52 per cent to N1.71.
On the flip side, University Press gained 10.00 per cent to sell for N3.74, Vitafoam Nigeria expanded by 10.00 per cent to N52.80, Livestock Feeds improved by 9.97 per cent to N8.49, C&I Leasing leapt by 9.89 per cent to N4.00, and McNichols advanced by 9.88 per cent to N1.89.
Despite the loss recorded by the NGX yesterday, investor sentiment remained bullish after it ended with 39 price gainers and 25 price losers, implying a positive market breadth index.
A total of 393.0 million shares worth N12.8 billion exchanged hands in 17,519 deals at midweek versus the 733.1 million shares valued at N35.3 billion traded in 16,619 deals a day earlier, showing a jump in the number of deals by 5.42 per cent, and a slip in the trading volume and value by 46.39 per cent and 63.74 per cent, respectively.
The busiest stock for the day was UBA with 38.9 million units valued at N1.4 billion, Wema Bank sold 26.6 million units worth N400.0 million, Fidelity Bank transacted 25.4 million units for N525.1 million, Access Holdings exchanged 25.0 million units valued at N565.2 million, and Zenith Bank traded 20.7 million units worth N992.3 million.
The local stock market will be closed for business today, Thursday, May 1, 2025, because of the public holiday declared by the federal government to commemorate Workers’ Day. Trading activities will resume tomorrow.