Nigerian equity market continues downtrend, dips by 0.19%

The Nigerian equity dipped from the second day in a row on Wednesday, underpinned on loss suffered by Access Bank, FBNH, Zenith Bank, and 12 others.

The All-Share Index (ASI) decreased by 47.65 absolute points, representing a dip of 0.19% to close at 25,550.31 points and the Market Capitalization size shed N1.16 billion, representing a contraction of 0.19% to close at N13.35 trillion.

Learn Africa was the top of the 17 gainers, adding 9.6% and ROYALEX shed 10% to lead 18 other losers.

The volume and value stock traded by investors decreased 13.6% and 19.8% respectively to 211.8m units and ₦2.4bn.

FCMB was the most active equity in volume term, having sold 30.3m units), followed by ACCESS (21.0m units) and UBA (18.6m units) as while MTNN (₦1.1bn), ZENITH (₦306.3m) and ACCESS (₦139.4m) led by value.

The Oil & Gas sector emerged top gainer, appreciating 0.4%, buoyed by gain by OANDO, while the Consumer Goods also gained 0.1%, lifted ARDOVA and VITAFOAM.

The Insurance and Banking indices led laggards, down 1.5% and 0.6% respectively following sell pressures in NEM, AIICO (-3.4%), UBA and ZENITH.

Similarly, the Industrial Goods index fell 0.2% due to a sell-off in WAPCO.

On the other hand, Finally, the AFR-ICT index closed flat.