The stock market on Wednesday continued on a bearish note, as key performance indicators dipped by 0.12 per cent.
Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation declined by N81billion, or 0.12 per cent, to N66.496 trillion from N66.577 trillion recorded on Tuesday.
The All-Share Index also dropped by 0.12 per cent or 130.33 points to close at 105,800.85 down from 105,931.18 posted on Tuesday.
The decline was largely attributed to sell-offs in heavyweight stocks.
However, the market breadth closed positive with 39 stocks advancing against 25 decliners.
On the gainers’ chart, University Press grew by 10 per cent, settling at N3.74 while Vitafoam also rose by 10 per cent, closing at N52.80 per share.
Livestock Feeds soared by 9.97 per cent, finishing at N8.49 and C & I Leasing Plc increased by 9.89 per cent, to close at N4.00 per share.
McNichols Plc gained by 9.88 per cent, closing at N1.89 per share.
On the losers’ chart, Ecobank Transnational Incorporated fell by 10 per cent, ending the session at N28.80 while International Breweries also dropped at 10 per cent to close at N7.38 per share.
Ikeja Hotel Plc declined by 9.89 per cent, closing at N12.30 and Cadbury Nigeria shed by 9.80 per cent, settling at N29.00 per share.
Similarly, Austin Laz and Company Plc lost by 9.52 per cent, closing at N1.71 per share.
A total of 392.99 million shares worth N12.755 billion were exchanged across 17,519 transactions.
This is in contrast to 733.05 million shares worth N35.288 billion that was traded across 16,619 deals earlier.
Transactions in the shares of United Bank for Africa topped the activity chart with 38.858 million shares worth N1.36 billion.
Wema Bank followed with 26.616 million shares valued at N400 million while Fidelity Bank transacted 25.39 million shares worth N525.05 million.
Access Corporation sold 25.04 million shares valued at N565.19 million and Zenith Bank traded 20.706 million shares worth N992.316 million.
