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NGX maintains adverse run, loses N24 billion on Wednesday

Buying and selling on the nation’s capital market continued in purple on Wednesday with the market capitalisation dropping by N24 billion, sustaining the adverse run for the third consecutive session.

Market capitalisation, which opened at N20.450 trillion, misplaced N24 billion or 0.12 per cent to shut at N20.426 trillion.

Additionally, the All-Share Index dipped 46.77 factors or 0.12 per cent to shut at 39,204.52 from 39,251.29 posted on Tuesday.

Consequently, the year-to-date loss elevated to 2.7 per cent.

The efficiency was buoyed by traders’ profit-taking sentiments in all the main sectors besides oil and fuel shares.

The market adverse efficiency was pushed by value depreciation in giant and medium capitalised shares amongst that are; Warranty Belief Financial institution Holding Firm, Zenith Financial institution, Stanbic IBTC Holdings, Worldwide Breweries and SCOA.

Nonetheless, the market breadth closed at par with 15 losers and 15 gainers.

SCOA dominated the losers’ chart in share phrases by 9.72 per cent to shut at N1.30 per share.

Veritas Kapital Assurance adopted with 8.70 per cent to shut at 21k, whereas AXA Mansard Insurance coverage misplaced 5.68 per cent to shut at 83k per share.

Chams dropped 4.55 per cent to shut at 21k, whereas Worldwide Breweries shed 4 per cent to shut at N4.80 per share.

Conversely, Regency Alliance Insurance coverage led the gainers’ chart in share phrases by 8.51 per cent to shut at 51k per share.

Common Insurance coverage adopted with a achieve of 5 per cent to shut at 21k, whereas Sovereign Belief Insurance coverage went up by 4.17 per cent to shut at 25k per share.

FCMB Group rose by 3.45 per cent to shut at N3, whereas Oando gained 3.18 per cent to shut at N4.54 per share.

Transactions within the shares of FBN Holdings topped the exercise chart with 86.01 million shares valued at N640.88 million.

Entry Financial institution adopted with 71.07 million shares price N671.34 million, whereas Common Insurance coverage traded 22.32 million shares valued at N4.52 million.

Warranty Belief Financial institution Holding Firm traded 19.44 million shares valued at N529.13 million, whereas Transcorp transacted 16.10 million shares price N14.69 million.

In all, the whole quantity of trades decreased by 0.53 per cent to 354.06 billion models valued at N3.20 billion traded in 4,095 offers.

This was towards 355.94 million shares price N2.87 billion traded in 4,241 offers on Tuesday. 

(NAN)

Credit score: Theparadise.ng

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