By Dipo Olowookere
The Nigerian Exchange (NGX) Limited remained in the red on Wednesday, as it further depreciated by 0.17 per cent due to sustained profit-taking.
The Nigerian equities market resumed trading activities yesterday after a one-day break to observe the public holiday declared by the federal government for Tuesday.
At midweek, the All-Share Index (ASI) went down by 402.25 points to 238,682.92 points from 239,085.17 points, and the market capitalisation decreased by N260 billion to N154.137 trillion from N154.397 trillion.
According to data, the loss was influenced by selling pressure across the major sectors of Customs Street, with the insurance index down by 0.94 per cent. The banking space declined by 0.41 per cent, the consumer goods counter depreciated by 0.28 per cent, and the energy segment shrank by 0.11 per cent, while the industrial goods sector was flat.
Fidson crashed by 9.99 per cent to N84.20, FTN Cocoa tumbled by 9.94 per cent to N7.79, International Energy Insurance dropped by 9.74 per cent to N3.15, Livestock Feeds dipped by 9.43 per cent to N7.20, and Omatek lost 9.42 per cent to settle at N1.25.
Conversely, Neimeth expanded by 9.66 per cent to N7.95, NEM Insurance improved by 6.67 per cent to N32.00, Regency Alliance rose by 6.25 per cent to 85 Kobo, Linkage Assurance gained 5.62 per cent to close at N1.88, and UPDC REIT grew by 2.88 per cent to 40 Kobo.
The market breadth index remained negative yesterday, as the bourse ended with 17 price gainers and 41 price losers, indicating weak investor sentiment.
Fortis Global Insurance led the activity chart with a turnover of 134.0 million units worth N268.0 million, First Holdco traded 88.9 million units valued at N11.1 billion, Access Holdings exchanged 32.7 million units for N910.5 million, Zenith Bank sold 30.9 million units for N3.7 billion, and Veritas Kapital transacted 28.6 million units valued at N34.1 million.
At the close of business, market participants traded 733.4 million units for N34.5 billion in 49,210 deals compared with the 668.7 million units valued at N23.8 billion transacted in 45,894 deals in the previous session. This showed that the trading volume chalked up 9.68 per cent, the trading value increased by 44.96 per cent, and the number of deals advanced by 7.23 per cent.
