Nigerian equities market remains bearish for third consecutive day

Nigerian equities market remains bearish for third consecutive day

The Nigerian equities market has remained bearish for the third consecutive day as the market capitalization declined by N24 million.

At the end of business on Wednesday, the All-Share Index also depreciated by 0.1% or 39,204.52 absolute points compared to 39,251.29 basis points recorded the previous day.

Investors lost N24 million as the market capitalization dipped further to N20.526 trillion lower than Tuesday’s N20.451 trillion.

A total volume of 354. 06 million units of shares valued at N3.20 billion exchanged hands in 4,095 deals.

The market sentiment remained negative as trading closed with 15 gainers and 16 losers.

Regal Insurance Plc led the gainers’ chart with N0.04k gain to close at N0.51k. It was followed by Universal Insurance Plc with a price gain of N0.01k to close at N0.21k, while Sovereign Trust Insurance Plc also gained N0.01k to close at N0.25k.

On the losers’ chart, SOCA led with a price loss of N0.14k to close at N1.30k, followed by Veritas Kap with a closing price of N0.21k after losing N0.02k and Mansard Insurance Plc, which lost N0.05k to close at N0.83k.

Transactions in the shares of FBN Holdings dominated the activity chart as the firm traded 86.005 million shares valued at N640.875 million.

Access Bank Plc followed with 71.068 million shares valued at N671.343 million, while Universal Insurance had 22.318 million shares valued at N4.515 million.

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